Goldman Hires Former EU President As Advisor

Tyler Durden's picture

Having cornered the central banker market, with its alumni manning key positions at most central banks, Goldman has decided to tip its cards into its next zone of interest: geopolitics, and has done so by hiring none other than the former head of the European Commission, Jean-Claude Juncker's predecessor and one-time Nigel Farage nemesis, Jose Manuel Barroso as an advisor and non-executive chairman of its international business. 

Barroso served as president of the European Commission, the EU's executive arm, from 2004 to 2014 and was prime minister of Portugal from 2002 to 2004.

According to Reuters, Goldman and other banks "are seen as particularly vulnerable to Brexit since they rely on the EU's "passporting" regime that allows them to offer services across the bloc while basing most of their staff and operations in the UK. Banks have warned that if their British outposts lose their "passports" they will have to move some employees and business units to alternative bases in the EU." Whether this means that Goldman is merely seeking an influential lobbying voice when it comes to getting an exemption from a post-Brexit fallout, or is simply seeking to expand its influence over all of Europe, remains unclear. After all it is not as if Goldman's European ambitions are unknown. As we have shown before, Goldman is already the undisputed "Master of the Eurozone" courtesy of strategy placements in all key decision-making venues.



Goldman Sachs International, which Barroso will chair, is headquartered in London and of its roughly 6,000 staff fewer than 1,000 are based outside Britain.

Barroso is credited with helping the euro zone survive the 2009-13 debt crisis by establishing a financial rescue fund, enacting stricter budget rules and tightening financial regulation. He was also a signatory to the Lisbon Treaty that revamped the bloc's complex institutions after French and Dutch voters rejected a European constitution.

Barroso will help the firm as it advises clients on dealing with the ensuing "challenging and uncertain economic and market environment," Goldman Sachs International co-chiefs Michael Sherwood and Richard Gnodde said in the statement.

Goldman's full press release is below:

Goldman Sachs International today announced the appointment of José Manuel Barroso as non-executive chairman of Goldman Sachs International (GSI). He will also be an advisor to Goldman Sachs.


José Manuel served as president of the European Commission from 2004 to 2014, and as prime minister of Portugal from 2002 to 2004. His perspective, judgment and counsel will add great value to our GSI Board of Directors, Goldman Sachs, our shareholders and our people.


Having first been elected to the Portuguese Parliament in 1985, José Manuel served as state secretary for home affairs, state secretary for foreign affairs and cooperation, and minister for foreign affairs in successive governments. In 1999, he was elected president of the Social Democratic Party and became the leader of the opposition. Prior to his political career, José Manuel’s academic positions included visiting professor at Georgetown University. Most recently, he was Frederick H. Schultz Class of 1951 visiting professor of International Economic Policy and a policy fellow at the Liechtenstein Institute, Woodrow Wilson School, at Princeton University. He is also visiting professor at the Catolica University in Lisbon and at the University of Geneva and the Graduate Institute of International Relations in the same city.


José Manuel has been awarded numerous honorary degrees and has received more than 60 decorations, prizes and honors, including Portugal’s Gra-Cruz da Ordem Militar de Cristo and Grande Colar da Ordem do Infante Dom Henrique.

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Haus-Targaryen's picture

I hate this guy so much.  I hate him more than I hate HvR ... that's saying something. 

Say What Again's picture

I'm plugging this news item into my HFT-Quanto-Matic model...

Smoke rising -- BANG! -- Swoosh! -- FIRE! -- Pfssst!! -- Kaboom!!!

The model estimates +161.8 points over the next 3 trading days.

froze25's picture

How does one company get so much influence? Oh because there is a banking cabal trying to rule the world. Sorry forgot for a sec.

Raging Debate's picture

Froze - Correction, Central Banking already conquered the earth. Now it is all turning to shit as every empire sucks all the wealth to the heart and the patient dies. 

jaap's picture

For all Dutch understanding readers... this is ex commissioner Neelie Kroes accepting a bribe job from Uber, while stating she would never do such a thing:


knukles's picture

You have got to be kidding me.
OK, so payola for deeds done for GS when he was in office.
I get it.

Guys, this is very bad for your image.

WTFRLY's picture

Joo-se Manuel Barroso

localsavage's picture

Another payoff disguised as a hiring.

lolmao500's picture

I wish someday we'd have a western stalin that take out his rage on banksters and their puppets. Send them all to the gulags and execute them all.

N0TaREALmerican's picture
N0TaREALmerican (not verified) Jul 8, 2016 1:31 PM

Ya gotta hand it to them smart-n-savvy people, they sure know allot of other smart-n-savvy people. 

E.F. Mutton's picture

Incestuous bunch aren't they?


VWAndy's picture

 May he end up as cat food.

mary mary's picture

The road goes on forever and the party never ends.

smacker's picture

Golman Suchs have more money than sense.

Barroso is a waste of space and a past-his-sell-by-date socialist and ex-Maoist.

rex-lacrymarum's picture

I think he is still a communist/ Maoist. 

Kirk2NCC1701's picture

It's just bithneth:  The rich & powerful looking out for #1 (themselves) while "doing God's* work"

* Their (OT) 'God' wants them to be a rich and powerful People.  Your (NT) 'God', OTOH, wants you to be calm and compliant Sheeple.  Baah!

That's why Kirk pledges, bows, follows, obeys or prays to no "Loser-God".  If a "God" (an imaginary, magical guy in the sky) needs to be believed in in the first place -- to give one's mammalian life purpose and meaning.

Which is why my high school daughter said:  "Dad, if I'm going to subscribe to some dusty, old desert myth, Lore, BS, funny customs and garb, then I'm going to pick the one that has adapted the best in Darwinian terms.  I'm gonna subscribe to the self-chosen Winners, not the self-inflicted Losers.  My DNA and eggs are too precious to be wasted on some loser."

Arnold's picture

You rented a condo to the High Rise Dallas shooters, didn't you?

Bunga Bunga's picture

In his university days, Barroso was one of the leaders of the underground Maoist MRPP (Reorganising Movement of the Proletariat Party, later PCTP/MRPP, Communist Party of the Portuguese Workers/Revolutionary Movement of the Portuguese Proletariat).

J J Pettigrew's picture

"See what you can find out"  before anyone else knows...

same game as the New York Fed, Treasury secretary game, CFTC chairman, etc, etc, etc.....

Just buying information......same ole same ole

Bam_Man's picture

Barosso is a former Marxist, which I suppose makes him emminently qualified to be a highly-paid "Useful Idiot" for Goldman Sachs.

rondellio's picture

Rejoice!  Taxi drivers in Turin, nurses in Nantes and and butchers in Berlin have one more reason to celebrate their fabulous EU democracy.  A democracy whose faithful servants continue to serve the people even after retirement from politics.  Together with their allies in international finance your political leaders will continue to work to make a better world for all workers: tomorrow belongs to you with the EU.    

Arnold's picture

Goldi has to flounder in some direction, quick.

BGO's picture

Collusion between Big Business and Government = THE DEFINITION OF *FASCISM*

All is chosen's picture

Quite fitting, if what a couple of Portuguese told me about 'The Hurricane' is true, that he was a bank security tester in his student days. Always coming back from uni in France, never on the way. 

NAV's picture

As our beloved country hurdles toward destruction, only identifying the true enemy can save us. That enemy stood up to take control of our economic miracle in 1913. And, now, with the Fed in literal worldwide monetary control, its face to the world can be recognized: it is Goldman Sachs.

Goldman is the Fed. Goldman has unlimited access to the Treasury. Goldman has control power over America’s politicians and most of the European politicians.

On January 27, 2014, Before It’s News (BIN) wrote...

The EUphile media, under the control of the bankers and supreme government in Brussels, hides the fact that the EU services “the vested interests of corporations that benefit from EU membership and rule by bureaucracy, while the negative consequences of membership are experienced by ordinary people as the democratic process is eroded and the capacity of people to effect change is eradicated….

“The European project was always intended, slowly and deliberately, to relegate national governance to nothing more than a rubber stamping operation….” 

Global governance, via Goldman and its Barrosos, will never be put to rest until the Fed, aka Goldman Sachs, is shut down.

All is chosen's picture

Just a thought. As the boy is naturally presidential, speaks more languages than Hillary knows the existence of, & you desperately need to do something radical across the pond, - he might be willing to become the next potus? - 

RattieNomNom's picture

But Angela wanted to be president at U.N.

kanselier's picture

fuckers i am so tired of eu shithole, fuck neo liberal politics! we need a people's revolution!

kanselier's picture

fuckers i am so tired of eu shithole, fuck neo liberal politics! we need a people's revolution!

Tic tock's picture

Can you actually imagine that he had such little political integrity that he actually did accept - after all that happened, he didn't regard the visuals on this as being maybe incongruous - at least he doesn't have to move out of europe

logicalman's picture

It's a big club.......

SHsparx's picture

A good little minion that served his banking masters well. Time for his reward.

rich1657's picture

Did Not See That Coming.