WASHINGTON -- Coming to town next month: the complet committee man to head the newest White House committee.
From the rarefied atmosphere of the Securities and Exchange Commission's market oversight panel to the ground-level gatherings of the New York mayor's economic advisory group, Robert E. Rubin has had a seat at many tables.
His biography lists no fewer than 32 committees, boards and trusts. It is a background that should serve him well as director of the newly invented National Economic Council in Bill Clinton's White House.
He will play the "honest broker" for ideas and initiatives that will determine whether this country gets its economic house in order or sees the foundations crumble further.
His job will be to coordinate policy among powerful agencies and personalities, to referee departmental differences, and set economic priorities for the president's consideration. No one expects it to be easy.
Former vice president Walter F. Mondale, who tapped Mr. Rubin to be one of his chief advisers during his 1984 presidential campaign, predicts he will have to fight for his survival.
"You can bet where some of the fights will break out," Mr. Mondale said. "You'll have pro-Treasury, pro-Commerce, pro-CEA [Council of Economic Advisers] types trying to shoot down the new institution which requires them to coordinate through this new officer in the White House."
But Mr. Rubin, 54, slight of stature, mild of manner, a surprisingly gray, self-effacing presence for such a successful and powerful money man, appears well-equipped to cope with the pressures.
A virtual stranger to Washington, Mr. Rubin comes from one of the most successful financial services houses in New York -- Goldman, Sachs & Co. He joined the private banking partnership 26 years ago, rising to co-senior partner and co-chairman, establishing the firm as a market leader in underwriting, mergers, acquisitions and international finance, and making his personal fortune.
In 1989 the bank ran afoul of federal regulators, and one of its senior operators pleaded guilty to insider trading, but Mr. Rubin was not implicated.
How rich is Mr. Rubin? It's impossible to tell. Goldman, Sachs' books are private. But, according to the Wall Street Journal, Mr. Rubin's share of the 1991 profits was $15 million, and the firm this year is estimated to earn record pretax profits of as much as $7 billion, promising him another fortune.
