“Larry and I have agreed and disagreed on issues for better than 25 years,” he said.

And Rubin looks forward to working with Summers and helping to manage an institution of Harvard’s size and prestige, he said.

“Harvard is a great University—a true global resource—that plays an enormous role in furthering inquiry, understanding and debate across the entire spectrum of intellectual pursuits,” Rubin said in a statement.

Rubin’s predecessor said he is excited at the selection—which helped make.

“If I could choose anybody in the world to replace me, it would be Bob Rubin,” Stone said. “He’s an absolutely wonderful person with great judgement.”

Rubin said his experience both in government and in the corporate world—he currently serves as chair of the Executive Committee at Citigroup—qualifies him to help oversee the University and its $18.3 billion endowment.

“Every institution is different and academic institutions are very distinct, but I’ve spent a lot of time around big institutions and there is some commonality,” Rubin said.

Harvard’s president agreed with Rubin’s assessment.

“I know from experience that his wisdom and judgment, as well as his understanding of how complex organizations work, will serve the University extremely well,” Summers said in the statement.

Rubin, 63, graduated summa cum laude in economics from Harvard in 1960. He also studied at the London School of Economics and Yale Law School.

In his Commencement address last year, Rubin said his time at Harvard was transformative.

Rubin joined Goldman, Sachs & Co. in 1966, where he stayed for 26 years. In 1993 Rubin left for Washington, where he lead the National Economic Council until he was named secretary of the treasury in 1995. In 1997 Rubin returned to Wall St., taking a position at Citigroup.

Rubin also previously served as a director of the Harvard Management Company which manages Harvard’s $18.3 billion endowment.

As a corporation member, Rubin will be one of seven individuals ultimately responsible for the operation of the University, discussing and approving matters as broad as Summers’ plans for Allston and as specific as rules governing library access.

Rubin said yesterday that it would be premature for him to weigh in on long-range issues to be decided by Corporation.