Obama Chief Of Staff Rahm Emanuel's Wasserstein Perella Years

Obama Chief Of Staff Rahm Emanuel's Wasserstein Perella Years

President-elect Barack Obama's choice to be his chief of staff, Rahm Emanuel, is already well-known in the halls of Washington for serving as an adviser to President Clinton, and most recently as a congressman from Illinois. But in between those two roles, Mr. Emanuel made millions of dollars on Wall Street as an investment banker with Wasserstein Perella, as the boutique firm was known at the time.

Despite having little experience or education in finance, Mr. Emanuel became a managing director at the firm's Chicago office in 1999, helping to bring in business and seal deals.

According to a 2003 article in the Chicago Tribune, Mr. Emanuel was brought in by one of the firm's founders, Bruce Wasserstein, who was one of President Clinton's most active fundraisers on Wall Street and is now the head of Lazard.

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