Robert Rubin was born in New York City in 1938. He received his A.B. summa cum laude from Harvard College and his law degree from Yale University. He also studied at the London School of Economics.

Rubin practiced law for a short time with Cleary, Gottlieb, Steen & Hamilton, from 1964 to 1966. He worked as an associate and then partner with Goldman Sachs & Co. from 1966 to 1992, serving as vice chairman and co-chief operating officer from 1987 to 1990, and co-senior partner and co-chairman from 1990 to 1992.

During the first Clinton administration, Rubin served as director of the National Economic Council and an assistant to the President for economic policy (1993-1995). He became secretary of the treasury in 1995, a position he held until 1999. From 1999 to 2009, he served as a member of the board of directors at Citigroup and as a senior advisor to the company. In 2010, he joined Centerview Partners as senior counselor of the firm.