Geithner to join Warburg Pincus Tim Geithner, the former US Treasury secretary, is joining Warburg Pincus as president and managing director of the private equity firm. He will work on "overall firm strategy and management, investing and portfolio management, organisational and funding structure, and investor relations," Warburg Pincus said on Saturday. The brief is bigger and wider than the figurehead positions typically taken by ex-government grandees moving into the industry. Mr Geithner had always batted away the idea that he would move into the financial sector after he left the Treasury in January this year. He is writing a book on his experience of fighting the financial crisis, first as president of the Federal Reserve Bank of New York, then as President Barack Obama's longest-serving senior financial official. He has spent his time giving speeches - some for free - and some, including to Blackstone and Warburg Pincus, for large fees - some of which were into six figures. His move, in March next year, comes without the reputational risk of transferring from the government to a job at a large investment bank, which Mr Geithner regulated at the Fed. But private equity is loathed by many liberal Democrats, who associate it with buy-outs that lead to large job losses. Mr Geithner was also part of an administration that made hay with the private equity past of Mitt Romney, the Republican presidential contender last year, and which for the last four years has threatened to increase the tax rate usually paid by partners in the industry. Mr Geithner is likely to benefit from the "carried interest" tax provision that allows hedge fund and private equity managers to enjoy lower rates than "teachers and firefighters," as Mr Geithner once put it in congressional testimony. "Warburg Pincus has an excellent record of performance, a very compelling global strategy and an ethical reputation of the highest regard," Mr Geithner said in a statement. He declined to comment further. Charles Kaye, co-chief executive, said, "We are excited to welcome Tim to Warburg Pincus. He brings a history of strong leadership, a deep understanding of economies and markets, and a truly global perspective. These attributes will be of tremendous value to our firm in this increasingly interconnected world. Warburg Pincus has $35bn of assets under management, with investments spanning Bausch & Lomb, the eye-care company, and Poundland, the UK retailer. It has a reputation as a private, tight-knit firm in contrast to some of the larger rivals - such as Blackstone - which went public in the last few years. Its sale of Neiman Marcus, using some of the debt instruments that characterised the boom years, has been seen as an example of dangerous practices returning to the industry. Mr Geithner's move was first reported by the Wall Street Journal. Additional reporting by Henny Sender in Hong Kong.