Hedge Funds

Citi alternatives COO heads to State


Citigroup's Alternative Investments group lost hundreds of millions of dollars of client assets last year investing in hedge fund strategies, real estate and infrastructure financing. But that hasn't stopped the new administration from naming the group's former chief operating officer to a senior advisory position. Jack Lew has been named deputy secretary of state under Hillary Clinton. Lew knows the Clintons well. He served in President Clinton's cabinet as the Director of the Office of Management and Budget.