The US Treasury has drafted in a former banker from Credit Suisse, one of the banks advising the UK Government on its banking bailout efforts, to help run its own troubled asset relief program, rather than continuing its trend of recruiting Goldman Sachs alumni. James Lambright, chairman and president of Export-Import Bank since July 2005, will become interim chief investment officer for Tarp. He previously worked for Credit Suisse, whose talent pool has been favored by the UK government for its bailout program for financial firms. The Treasury said Lambright will serve until a permanent replacement is found. In the meantime, he will offer counsel to Treasury Secretary Henry Paulson and interim assistant secretary for the Office of Financial Stability Neel Kashkari as they begin to deploy Tarp.
James Lambright, chairman and president of Export-Import Bank since July 2005, will become interim chief investment officer for Tarp. He previously worked for Credit Suisse, whose talent pool has been favored by the UK government for its bailout program for financial firms.
The Treasury said Lambright will serve until a permanent replacement is found.
In the meantime, he will offer counsel to Treasury Secretary Henry Paulson and interim assistant secretary for the Office of Financial Stability Neel Kashkari as they begin to deploy Tarp.
