Dec. 1 (Bloomberg) -- Citigroup Inc., recovering from its $45 billion bailout in 2008, is in advanced talks to hire former White House Budget Director Peter Orszag, people with knowledge of the matter said.
Orszag, 41, may take a job in the New York-based firm's investment-banking division, the people said, declining to be identified because the discussions are private. An announcement may come as early as today, one of the people said.
Orszag, an economist trained at Princeton University and the London School of Economics, helped shape U.S. economic stimulus during the financial crisis and overhaul the health- care system. The youngest member of President Barack Obama's cabinet, he spent 18 months as White House budget director, stepping down in July.