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The Associated Press December 9, 2010, 2:39PM ET

Citi taps ex-budget director Orszag as vice chair

Citi says it naming former budget director Peter Orszag as a vice chairman of its global banking business.

Orszag was the director of the Office of Management and Budget under President Barack Obama before resigning in July. He is currently a distinguished visiting fellow at the Council on Foreign Relations.

To keep in line with ethics rules, Citi says Orszag's role at the banking giant will not involve contact with officials from the federal government.

Citi says Orszag will be a member of its senior strategic advisory group.

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