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Re: StephanieVanbryce post# 170423

Wednesday, 03/14/2012 1:25:03 PM

Wednesday, March 14, 2012 1:25:03 PM

Post# of 575996
Jake Siewert, former counselor to Treasury Secretary Timothy Geithner and press secretary at the end of the second Clinton administration, has landed at Goldman Sachs, where he will be a managing director and head of global corporate communications.

Siewert is expected to inherit the portfolio of Lucas van Praag, a long-time Goldman executive who ran the public relations department and developed a reputation for his sharp wit and barbed emails to reporters he believed had misrepresented the bank. Van Praag is expected to leave within weeks.

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Siewert will undoubtedly take some criticism for taking part in the “revolving door” between Washington and Wall Street. Several senior White House officials, including current Chief of Staff Jack Lew and former Chief of Staff Bill Daley joined the White House from big banks — Citigroup and JPMorganChase respectively.

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Some on Wall Street have criticized the Obama administration for publicly castigating the banking industry while hiring many of its executives.

Siewert previously worked in mergers and acquisitions at Alcoa before returning to Washington to work for Geithner. His family never left New York. Geither is also expected to leave the administration and return to his family in New York after the fall election, regardless of the outcome.

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Read more: http://www.politico.com/news/stories/0312/73946.html#ixzz1p74HZk2r

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