Early Life and Career
Altman was raised in Brookline. His mother was a librarian and his father was a food broker. He holds a B.A. 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.
Read more about this topic: Roger Altman
Famous quotes containing the words early, life and/or career:
“We have good reason to believe that memories of early childhood do not persist in consciousness because of the absence or fragmentary character of language covering this period. Words serve as fixatives for mental images. . . . Even at the end of the second year of life when word tags exist for a number of objects in the child’s life, these words are discrete and do not yet bind together the parts of an experience or organize them in a way that can produce a coherent memory.”
—Selma H. Fraiberg (20th century)
“I set forth a humble and inglorious life; that does not matter. You can tie up all moral philosophy with a common and private life just as well as with a life of richer stuff. Each man bears the entire form of man’s estate.”
—Michel de Montaigne (1533–1592)
“Like the old soldier of the ballad, I now close my military career and just fade away, an old soldier who tried to do his duty as God gave him the light to see that duty. Goodbye.”
—Douglas MacArthur (1880–1964)