Roger Altman
Encyclopedia
Roger Charles Altman is an American
investment banker, private equity
investor and former United States Deputy Secretary of the Treasury
who served under Bill Clinton
.
from Georgetown University
and an M.B.A.
from the University of Chicago Booth School of Business.
He was a general partner of Lehman Brothers
from 1974 to 1977. From 1977 to 1981 he served as the Assistant Secretary of the United States Department of the Treasury
, during which time he helped oversee the then-troubled financial affairs of Chrysler
. In 1981, he returned to Lehman Brothers, where he became the co-head of investment banking and served on the board of the company and the management committee. During the 1980s, he was a lecturer and adjunct professor at the Yale School of Management
. In 1987, Altman joined the newly-formed Blackstone Group
as vice-chairman, head of its mergers and acquisitions
advisory business and a member of the investment committee.
Altman served as the Deputy Treasury Secretary, before resigning in 1994 following a record-keeping scandal. In 1996, instead of returning to Blackstone, he co-founded Evercore Partners
, a boutique advisory and private equity
investment firm in New York City
, and currently serves as firm's Chairman.
Altman has served as advisor to two presidential candidates: John Kerry
in 2004, and Hillary Clinton in 2008.
Altman is founder and chairman of Evercore Partners, which advised on the GM deal. Evercore, after being paid $46 million by GM pre-bankruptcy, asked for a $17.9 million "success fee." A U.S. bankruptcy trustee termed the fees "staggering" and "inordinately large" and said it "clearly exceeds the bounds of reasonableness" given that "Evercore had no success at finding a purchaser or funder for the Debtors."
Altman is married to journalist Jurate Kazickas.
, a controversial group of influential business and government leaders who meet annually behind closed doors under a media blackout to discuss world issues. In 2009, Altman was on the list of Bilderberg conference attendees in Greece.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
investment banker, private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
investor and former United States Deputy Secretary of the Treasury
United States Deputy Secretary of the Treasury
The Deputy Secretary of the Treasury, in the United States government, advises and assists the Secretary of the Treasury in the supervision and direction of the Department of the Treasury and its activities, and succeeds the Secretary in his absence, sickness, or unavailability...
who served under Bill Clinton
Bill Clinton
William Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...
.
Early life and career
Altman holds a B.A.Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
from Georgetown University
Georgetown University
Georgetown University is a private, Jesuit, research university whose main campus is in the Georgetown neighborhood of Washington, D.C. Founded in 1789, it is the oldest Catholic university in the United States...
and an M.B.A.
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
from the University of Chicago Booth School of Business.
He was a general partner of Lehman Brothers
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...
from 1974 to 1977. From 1977 to 1981 he served as the Assistant Secretary of the United States Department of the Treasury
United States Department of the Treasury
The Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue...
, during which time he helped oversee the then-troubled financial affairs of Chrysler
Chrysler
Chrysler Group LLC is a multinational automaker headquartered in Auburn Hills, Michigan, USA. Chrysler was first organized as the Chrysler Corporation in 1925....
. In 1981, he returned to Lehman Brothers, where he became the co-head of investment banking and served on the board of the company and the management committee. During the 1980s, he was a lecturer and adjunct professor at the Yale School of Management
Yale School of Management
The Yale School of Management is the graduate business school of Yale University and is located on Hillhouse Avenue in New Haven, Connecticut, United States. The School offers Master of Business Administration and Ph.D. degree programs. As of January 2011, 454 students were enrolled in its MBA...
. In 1987, Altman joined the newly-formed Blackstone Group
Blackstone Group
The Blackstone Group L.P. is an American-based alternative asset management and financial services company that specializes in private equity, real estate, and credit and marketable alternative investment strategies, as well as financial advisory services, such as mergers and acquisitions ,...
as vice-chairman, head of its mergers and acquisitions
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
advisory business and a member of the investment committee.
Altman served as the Deputy Treasury Secretary, before resigning in 1994 following a record-keeping scandal. In 1996, instead of returning to Blackstone, he co-founded Evercore Partners
Evercore Partners
Evercore Partners is an investment bank located in New York City. Evercore also has an investment management business through which the Company manages private equity and venture capital funds for institutional investors...
, a boutique advisory and private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
investment firm in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, and currently serves as firm's Chairman.
Altman has served as advisor to two presidential candidates: John Kerry
John Kerry
John Forbes Kerry is the senior United States Senator from Massachusetts, the 10th most senior U.S. Senator and chairman of the Senate Foreign Relations Committee. He was the presidential nominee of the Democratic Party in the 2004 presidential election, but lost to former President George W...
in 2004, and Hillary Clinton in 2008.
Altman is founder and chairman of Evercore Partners, which advised on the GM deal. Evercore, after being paid $46 million by GM pre-bankruptcy, asked for a $17.9 million "success fee." A U.S. bankruptcy trustee termed the fees "staggering" and "inordinately large" and said it "clearly exceeds the bounds of reasonableness" given that "Evercore had no success at finding a purchaser or funder for the Debtors."
Altman is married to journalist Jurate Kazickas.
Bilderberg Group
Altman is listed as a member of the Steering Committee of The Bilderberg GroupBilderberg Group
The Bilderberg Group, Bilderberg conference, or Bilderberg Club is an annual, unofficial, invitation-only conference of approximately 120 to 140 guests from North America and Western Europe, most of whom are people of influence. About one-third are from government and politics, and two-thirds from...
, a controversial group of influential business and government leaders who meet annually behind closed doors under a media blackout to discuss world issues. In 2009, Altman was on the list of Bilderberg conference attendees in Greece.