Peter Raymond
Public Sector Financial Services Practice Leader
PricewaterhouseCoopers
Excellence in Public Sector
If there's a financial meltdown anywhere in the world, it's a safe bet that PricewaterhouseCoopers' Peter Raymond will be ready to respond. That is, after all, what he does.
After tacking other financial collapses around the world, Raymond currently leads the firm's 250-person Public Sector Financial Services practice. The team assists U.S. federal agencies—including the U.S. Department of the Treasury, the Federal Reserve, FDIC, and the Department of Housing and Urban Development—involved in financial stabilization and credit operations. The team is supporting the Troubled Asset Relief Program (TARP) at the U.S. Treasury.
The team was assembled from the firm's public sector and financial services practices. "As the financial crisis was unfolding, a bunch of us got together and put our heads together to see how we could best help," he says.
"The TARP work was originally started with a relatively high-end core team of about 20 to 30 people. Our business model was simply to bring to the table the very best talent, those who really understand government and financial services. The more we realized that many of these federal agencies had never done anything like this before, the more our team grew—until we had about 250 consultants working across the market."
If it sounds like Raymond managed to take the financial meltdown in stride, it's because he did. It's hard to be phased when it's the fourth such financial collapse you've helped fix in the last two decades.
"In 1990, just after the Berlin Wall had come down, I lived in Poland and Hungry and helped those two countries with their economic restructuring. Then I helped Russia with its restructuring. I also led a number of teams that helped to restructure the financial systems in a number of countries in Southeast Asia."
He adds: "I never thought we'd see this kind of crisis in the U.S., but fortunately I was able to draw on my previous experience to help here. My professional career has been built at the interface between the public sector and financial service industries."
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