The revolving door between politics and Wall Street continues as former Chicago mayor and longtime Democratic operative Rahm Emanuel will join boutique investment bank Centerview Partners LLC.
As The Wall Street Journal reports, Mr. Emanuel, who left office last month, will open a Chicago office for Centerview and advise clients on merger deals and other matters, he said in a joint interview Wednesday with Centerview co-founders Blair Effron and Robert Pruzan.
“Our job is to help clients make big decisions,” Mr. Pruzan said. “Rahm has spent his career in the room where big decisions are being made.”
“Rahm’s leadership and vast experience providing strategic advice, coupled with a track record of successful planning and execution, will bring tremendous value to our firm and our clients. Establishing a presence in Chicago is a logical next step for Centerview as we continue to grow, and it positions us to better serve existing and new clients throughout the Midwest.”
Mr. Emanuel said:
“I am excited to use my lifelong experience as an advisor and problem solver in both the public and private sectors in this next chapter of my career, and thrilled to be joining Centerview Partners – a pre-eminent firm that advises leading global companies,”
“I know the Centerview team well and look forward to working with an accomplished and respected group to provide clients in the Midwest, nationally and around the world with trusted, independent advice.”
Mr. Emanuel has had an extensive career in public service, most recently as Mayor of Chicago for two terms beginning in 2011, during which time he oversaw increased economic development that has revitalized the city, expanded the public education system, and improved public parks, amenities, transit and other infrastructure projects. He previously served as Chief of Staff to President Obama, where he helped secure the passage of landmark legislation, including the unprecedented stimulus package that ushered the country through the great recession and the passage of the Affordable Care Act. From 2003 to 2009, Mr. Emanuel served in the U.S. House of Representatives, where he held a number of leadership positions, including Democratic Congressional Campaign Committee chairman and Democratic Caucus chairman. Mr. Emanuel served as director of the finance committee of Bill Clinton’s 1992 presidential campaign and later as Assistant to the President for political affairs and Senior Advisor for policy and strategy.
And now its time to really cash in… Mr. Emanuel, who will start at Centerview in July, also weighed job offers from Blackstone and Evercore, people familiar with the matter said.
“Never let a lost election (ok he didn’t seek a 3rd term after terrible polls) go to waste…”
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Author: Tyler Durden