Robert Rubin: money manager

It’s been a long time since Bob Rubin traded stocks for a living, but the former Treasury secretary and Goldman Sachs co-chairman has quietly taken a small role in the money management business.

Now chairman of Citigroup’s executive committee, Rubin has signed on as a board member of Tinicum Advisors, a new organization that will help guide the business interests and hedge fund investments of the wealthy - and very private - Ruttenberg family. Tinicum, the investment company created more than a decade ago by former Studebaker-Worthington chairman Derald Ruttenberg, discreetly played an important role in the private investment market as an early backer of firms such as Forstmann Little. Rubin, who ran risk arbitrage at Goldman, may even get a chance to dust off his takeover-investing skills. One of the funds in the Tinicum portfolio, Farallon Capital, is a leading San Francisco-based risk arb and special situations fund run by Thomas Steyer, who worked for Rubin at Goldman. Rubin, who’s also busy writing his Clinton administration memoirs for Random House, could not be reached for comment.

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