Highest Profile Goldman Sachs Alums
Topics:Wall Street | Politics and Government | Mergers and Acquisitions | Laws and Legislation | Investment Strategy | Economy (U.S.) | Economy (Global) | Congress | Corporate Leaders | Banking | Henry Paulson
Sectors:Financials | Banks
Companies:Citigroup Inc | iPath Goldman Sachs | Goldman Sachs Group Inc.
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Photo Credit: Travelif | Photodisc | Getty Images There's a long list of Goldman Sachs executives who have played critical roles in government and business, from Sidney Weinberg during the World War II years to Hank Paulson's during the 2008 financial crisis.Conspiracy theorists, as a result, often try to tie the firm's success to its connections in Washington and other influential institutions. Others simply note that Goldman is known to hire the "best and brightest." That practice has not only given it a competitive edge in the marketplace, it has made its executives ideal candidates for the challenges of public service or other pursuits. And in some cases it also made Goldman an attractive destination after such service.So, who are the most influential Goldman Sachs alums linked to DC and beyond? Click ahead to find out! By Gennine KellyPosted 25 May 2010 |
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Photo Credit: Getty Images Time at Goldman: 2002-2006Top postion: Vice President in San Francisco Top position as GS alum: Head of Troubled Assest Relief Program (TARP)In 2006 Kashkari was picked to head TARP, supervising the $700-billion bailout fund. In 2009 he left the government sector and became Managing Director of New Investment Initatives for PIMCO. |
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Photo Credit: Getty Images Time at Goldman: 1985-2007Top position: Managing Director Top Position as GS alum: CEO & Director of NYSE EuronextNiederauer served in various capacities during his 22-year career at Goldman. He was responsible for Goldman's U.S. cash equities at the New York Stock Exchange and NYSE Arca; and became the managing director in 1987. Since leaving Goldman in 2007, Niederauer has been the director of NYSE Euronext. |
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Photo Credit: Getty Images Time at Goldman: 1994-1999Top position: Executive Director for Legal & Governmental Affairs in LondonTop position as GS alum: White House Chief of StaffBolten was White House Chief of Staff under President George W. Bush from 2006 to 2009 and Deputy Chief of Staff from 2001 to 2003. He also served under George Bush Sr. as General Counsel to the Office of the U.S. Trade Representative (USTR). At present, Bolten serves as Co-Chair of the Clinton Bush Haiti Fund & is a visiting professor at Princeton University. |
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Photo Credit: Getty Images Time at Goldman: 1975-1999Top position: Chairman & CEO Top position as GS Alum: Governor, New JerseyCorzine, who held the CEO position from 1994-1999, was at the helm when the company sold its first shares to the public. Following his departure, Corzine was elected Senator from NJ in 2001, and was later Governor from 2006-2010. After losing the 2010 gubernatorial election to Chris Christie, Corzine went on to become the chairman of the cash and derivatives broker, MF Global. |
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Photo Credit: NY Daily News via Getty Images Time at Goldman: 1966-1992Top position: Co-Chairman of GSTop position as GS alum: Secretary of TreasurySince leaving the firm in 1992, Rubin served in various positions under President Bill Clinton, most notably from 1995 to 1999 as Secretary of Treasury. In 2007 Rubin became the temporary Chairman of Citigroup, only to resign two years later as senior counselor amid criticism. |
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Photo Credit: Mark Wilson | Getty Images Time at Goldman: 1986-2007Top Position: Partner & Managing Director Top Position as alum: President & CEO of the Federal Reserve Bank of New YorkDudley was Goldman’s chief U.S. economist for a decade during his 21-year career span with the firm. Prior to working at Goldman, he served as an economist at the Federal Reserve Board from 1981-1983. Two years after leaving Goldman, Dudley became the President and CEO of the Federal Reserve Bank of New York. |
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Photo Credit: Jim Watson | AFP | Getty Images Time at Goldman: 2006-2007 Top position: International Vice-Chairman Top position as GS alum: World Bank President Zoellick became President of the World Bank in the summer of 2007 after a year as the Vice-Chairman for Goldman Sachs International Group. Prior to this, he served as the Deputy Secretary for the U.S. State Department. He also held the cabinet post of U.S. Trade Representative. |
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Photo Credit: Getty Images Time at Goldman: 1979-1999Top position: Partner & Co-head of Finance Top position as GS alum: Chairman of the Commodity Futures Trading Commission Gensler has been an established member of Washington since 1997 when he became the Assistant Secretary of the Treasury. Since then, he's held various positions within the Treasury Department. In 2009, Gensler became Chairman of the Commodity Futures Trading Commission. |
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Photo Credit: Getty Images Time at Goldman: 1974-2006Top position: Chairman & CEO Top position as GS Alum: Secretary of Treasury Paulson's ties to Washington, D.C. date back to the Nixon administration. But, he is best known as the Secretary of Treasury under President George W. Bush. Paulson was a major architect of the TARP program and implemented numerous government programs to help stabilize the country's financial system. Prior to this position, Paulson was the Chairman & CEO of Goldman Sachs from 1999-2006. |
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Photo Credit: Jim Sloan | AFP | Getty Images Time at Goldman: 1976-2004Top position: Vice ChairmanTop position as GS alum: Under Secretary for Domestic FinanceAfter serving for two years as the Under Secretary for Domestic Finance, Steel took over as President and CEO of Wachovia in 2008. When Wachovia merged with Wells Fargo, Steel was invited and joined Goldman's of Board of Directors as Vice Chairman. |
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Photo Credit: Mark Kauffman | Time & Life Pictures | Getty Images Time at Goldman: 1907-1969 (Approx.)Top position: Head of Goldman Top position as GS alum: Vice-Chairman of the War Production Board Weinberg's life reads as a rags-to-riches story: At 15 he left school and eventually landed a janitor/porter's assistant job at Goldman, making $3 per week. He quickly moved up the ranks. In 1930 Weinberg took the helm of the firm for 39 years and established strong ties with the White House. President Roosevelt nicknamed him "the politican," and Weinberg later became Vice-Chairman of the War Production Board. |
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Photo Credit: Getty Images Time at Goldman: 1985-2003Top position: President & Co-Chief Operating Officier Top position as GS alum: Chairman & CEO of CIT GroupThain is the former CEO of NYSE and former Chief of Merrill Lynch. There was speculation that TARP funds were used to pay large bonuses to Merrill's employees while the firm was being acquired by Bank of America. During the financial crisis it was revealed that Thain spent what some believed was an exorbitant amount of corporate money decorating his office. However, later the firm was reimbursed. Thain is now the Chairman & CEO of CIT group. |
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Photo Credit: Francis Miller | Time Life Pictures | Getty Images Time at Goldman: 1968-1999Top position at GS: Head of International Group Top Position in Gov't: Secretary of TreasuryHenry Fowler did what most people in this list did not - work for the government before working at Goldman Sachs. Prior to joining the firm, Fowler worked in the government sector dating back to the Kennedy administration. Later, he became Secretary of Treasury under President Johnson, and in 1968 lobbied and won a 10-percent tax increase to meet the growing financial demands for the Vietnam War. After his government service, Fowler spent nearly 30 years at Goldman Sachs. |
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Photo Credit: Getty Images Time at Goldman: 1947-1984Top position: Chairman & CEO Top position as GS alum: Deputy Secretary of State After a 38-year career with Goldman, Whitehead became Deputy Secretary of State under George Schultz during the Reagan administration from 1985 to 1989. He also served as the director of NYSE and is a former Chairman of the Federal Reserve Bank of New York. |
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Photo Credit: Pierre Verdy | AFP | Getty Images Time at Goldman: 1982-2009Top position: Vice Chairman of Goldman Sachs InternationalTop position as GS alum: Under Secretary of State for Economic, Energy & Agricultural AffairsPrior to joining Goldman Sachs, Hormats held various government positions, most notiably that of Senior Economic Advisor to Dr. Henry Kissinger, General Brent Scowcroft and Dr. Zbigniew Brzezinski from 1969-1977. Currently he is the Under Secretary of State for Economic, Energy and Agricultural Affairs. |
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Photo Credit: Manny Ceneta | AFP | Getty Images Time at Goldman: 1966-1994Top position: Chairman of Goldman SachsTop position as GS alum: Chairman of the Foreign Intelligence Advisory BoardFriedman held various positions under the Bush administration, including Director of the National Economic Council. In 2009, Friedman resigned as Chairman of the Federal Reserve Bank of New York amid controversary for buying $3 million worth of Goldman stock. He is the current Chairman of Stone Point Capital and remains a member of the board at Goldman Sachs. |
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