Geithner heading to Wall St. firm (Video)

Former U.S. Treasury Secretary Tim Geithner will join the private equity firm Warburg Pincus.

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Geithner, who played a major role in the federal government's rescue of the financial system, has spent most of his career in the public sector. He'll serve as president and managing director of the company in his new job.

"When they approached me, they clearly wanted me to play a substantive role in helping them manage the firm," he told the Wall Street Journal.

Geithner becomes the latest former administration official to head to a private equity firm, a common practice through many administrations.