Image: Alan Greenspan
J. Scott Applewhite  /  AP file
Former Federal Reserve Chairman Alan Greenspan is widely viewed as the most successful chairman in the Fed's 92-year history.
updated 6/5/2006 8:37:36 PM ET 2006-06-06T00:37:36

Alan Greenspan has selected a Fortune Magazine veteran, Peter Petre, to assist on his memoirs, for which the former Federal Reserve chairman received a reported $8.5 million.

Greenspan's literary representative, Washington, D.C. attorney Robert Barnett, said Monday that there were three reasons for choosing Petre, a senior editor-at large-at Fortune: His experience working on best sellers, including Gen. H. Norman Schwarzkopf's "It Doesn't Take a Hero"; his expertise in economic issues, and, says Barnett, "He's a delightful guy to work with."

Petre's selection was reported Monday by The New York Times.

The 80-year-old Greenspan, widely viewed as the most successful chairman in the Fed's 92-year history, served as chair from 1987 until his retirement earlier this year. His book, currently untitled, is scheduled for release in 2007.

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