Behold the definition of a "revolving door" - Judd Gregg: from US Senator [12], to Goldman Sachs [13] advisor, to SIFMA head, all in under two years.
The SIFMA press release [14]proudly announcing its new head. Oddly, zero mentions of "Goldman Sachs":
The Securities Industry and Financial Markets Association (SIFMA) today announced the appointment of former three-term U.S. Senator Judd A. Gregg as Chief Executive Officer of the Association and the appointment of former U.S. Representative and SIFMA Acting President & CEO Kenneth E. Bentsen, Jr. as President of the Association.
“Judd’s experience as both a governor and legislator will be of tremendous value to SIFMA in bridging the gap between the complexities of the financial markets and the positive impact our markets have on every community across America,” said Chet Helck, SIFMA Chair and CEO Global Private Client Group at Raymond James Financial. “Judd and Ken, who has proven himself as an outstanding member of SIFMA’s senior management, are the right team to lead SIFMA in our important mission of ensuring trust in our financial markets, fostering an understanding of the important role efficient capital markets play in the life of every American working and living across the country and demonstrating the positive impact the financial services industry has on economic growth and job creation.”
“Judd is a national leader and a respected voice on financial regulatory and economic issues,” said Jim Rosenthal, Chair-Elect of SIFMA and Chief Operating Officer at Morgan Stanley. “As SIFMA focuses on increasing trust and confidence in the financial markets and allowing that confidence to grow and create jobs, I can’t envision a better team than Judd and Ken to lead us. I feel more confident in the Association’s ability to communicate effectively at every level – to the government, to regulators, internationally and, most important, to the people who look to financial services to help them achieve their goals.”
Senator Gregg was the ranking Republican member on the Appropriations; Banking, Housing and Urban Affairs; and Health, Education, Labor and Pensions Committees. Prior to joining the U.S. Senate, he served two terms as governor of New Hampshire and four terms as a member of the U.S. House of Representatives. Senator Gregg currently serves as a Co-Chair of the bi-partisan Campaign to Fix the Debt and served on the National Commission on Fiscal Responsibility. Senator Gregg holds a Juris Doctor and Master of Laws from Boston University and a Bachelor of Arts in English from Columbia University.
“It is an honor to join SIFMA as CEO. America’s success and prosperity depends on a vibrant financial system providing access to capital and credit that helps people on Main Streets across America build on their dreams of opening a small business, saving to be able to send their children to college, buying their first home or saving for retirement,” Gregg said. “At the center of this financial system is the membership of SIFMA. Our members provide the resources and expertise that make the economic engine of America work and create a more prosperous life for Americans. We are facing a great many challenges and I look forward to working with legislators and regulators together as we improve our economy and the lives of our citizens.”
Mr. Bentsen has served as Executive Vice President of Public Policy and Advocacy since 2009 overseeing SIFMA’s legal, legislative and regulatory affairs and served as a leading industry voice. Prior to joining SIFMA, Mr. Bentsen was president of the Equipment Leasing and Finance Association (ELFA). From 1995 to 2003, Mr. Bentsen served as a Member of the U.S. House of Representatives from Texas, where he sat on the House Financial Services Committee (and its predecessor House Banking and Financial Services Committee), and separately on the House Budget Committee. Prior to his service in Congress, Mr. Bentsen was an investment banker at a major Wall Street firm and a large regional firm, where he specialized in municipal and mortgage finance. Mr. Bentsen has a B.A. from the University of St. Thomas and an M.P.A. from American University.
“SIFMA is the leading trade association for the capital markets business with an outstanding member base and dedicated employee team,” Bentsen said. “Judd Gregg will bring a strong voice and leadership to underscoring the role of finance in fostering capital formation, wealth creation and jobs and economic development in the United States. I look forward to working with Judd and our members as we promote effective and efficient markets, at home and abroad, to finance a growing American economy.”