“In 1992 there was a lot of uncertainty about the future of the American economy,” Siewert says. “He thought the economy just needed strong leadership. Above all [Rubin] likes taking smart risks and tackling big challenges.

1600 Pennsylvania Ave.

Rubin began his tenure with the Clinton administration in 1993 as an assistant to the President for economic policy. In that capacity he directed the newly created National Economic Council until 1995.

“In his first job with the NEC, he had a great background and was a coordinator of a lot of different people with a lot of different backgrounds,” Siewert says. “He took an institution that never existed before to treat international economic matters in the same way we treat national security matters.”

Rubin said his experience in the business world informed his approach to formulating economic policy.

“The bottom line is that your experience in the private sector is useful but government is very different,” he says. “You have to recognize the government’s objectives and the process it takes to achieve them.”

He stepped up to serve as the 70th Secretary of the Treasury in June of 1995. Rubin quickly drew many powerful people around him, retaining their loyalty with his willingness to share credit with others and consider staff suggestions.

“He’s a very low-key operative,” says economics Professor Richard Zeckhauser. “The thing he does better than anyone is elicit information from anyone in the room with him.”