Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

Emanuel: I Specialized In 'Relationship Banking' Emanuel: I Specialized In 'Relationship Banking'

This ad will end in seconds
Close X

Want access to this content? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation


Emanuel: I Specialized In 'Relationship Banking'

Rahm Emanuel isn't inclined to discuss his work as an investment banker as he campaigns for mayor of Chicago. But Emanuel's opponents have raised questions about his stint with Wasserstein Perella & Co, where Emanuel reportedly earned $18.5 million in just two and a half years after leaving the Clinton White House.

"I defy you to tell me anybody you know who jumped out of government into a business for which he had no credentials or background, made $18.5 million in two years and then jumped back into government," said former Chicago Public Schools president Gery Chico, one of Emanuel's main challengers in the race.

Emanuel responded by telling the Chicago Sun-Times that he specialized in "relationship banking."

"There is, in that culture, two types of bankers: a person who knows the numbers, industry specific; and a person who kind of also deals with relationships," Emanuel said. "I was what was considered, at that time, although I don't think this is really interesting, relationship banking, and that's what I did."

Considered the heavy favorite in the race, Emanuel needs more than 50 percent of the vote in the Feb. 22 primary to avoid a run-off. In the meantime, don't expect much discussion of Rahm's banking experience coming from the Emanuel campaign.

Don't Miss Today's Top Stories


Rick, Executive Director for Policy

Concise coverage of everything I wish I had hours to read about."

Chuck, Graduate Student

The day's action in one quick read."

Stacy, Director of Communications

I find them informative and appreciate the daily news updates and enjoy the humor as well."

Richard, VP of Government Affairs

Chock full of usable information on today's issues. "

Michael, Executive Director

Sign up form for the newsletter