Citigroup Inc. (NYSE: C), the bank 34 percent owned by the U.S. Treasury Department, hired London School of Economics Professor Willem Buiter as chief economist, filling the post eight months after Lewis Alexander left to join the Treasury, according to Bloomberg.
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Buiter, 60, starts in January, New York-based Citigroup said Monday in a statement. He is a professor of political economy at the London school and has been a consultant to Goldman Sachs Group Inc. since 2005, according to the statement. He has a bachelor’s degree from Cambridge University and a doctorate from Yale University.
Buiter was chief economist for the European Bank for Reconstruction and Development from 2000 to 2005, and from 1997 through 2000 he was an external member of the Monetary Policy Committee of the Bank of England, Citigroup said. He has been an adviser to the International Monetary Fund, the World Bank and the Inter-American Development Bank, according to the statement.
Alexander, who had worked at Citigroup since 1999, left in March to become a counselor on domestic finance issues to Treasury Secretary Timothy Geithner. He was paid $2.4 million by Citigroup in 2008 and the first months of 2009, according to his financial-disclosure form filed with the Treasury. In December 2007, he predicted the U.S. would probably avoid a recession.
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