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Bloomberg Businessweek

Goldman, Lazard Look to Ex-Spies for Edge in Volatile World

Feb 1, 2024
09:21
Snipd AI
Bloomberg Wall Street Reporter Sonali Basak discusses how financial firms are hiring ex-spies, diplomats, and soldiers to navigate geopolitical conflicts and election years. They explore the transition from military to finance, the risks and benefits of former spies working for companies, and the advantage of leveraging deep knowledge of conflicts and government relationships in the banking industry.
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Podcast summary created with Snipd AI

Quick takeaways

  • Financial firms are hiring former spies and intelligence officials to navigate geopolitical risks and conflicts.
  • Former spies in banking provide expertise in managing government balance sheets and navigating potential crises.

Deep dives

Financial firms hiring former spies and military personnel

Financial firms are increasingly hiring former spies, diplomats, and soldiers to help navigate geopolitical risks and prepare for potential conflicts. Banks like Lazard have hired individuals with significant experience, such as Bill McRaven, who led counter-terrorism operations for the US and oversaw the raid that killed Osama bin Laden. The current state of geopolitical affairs and the increasing number of elections worldwide have led banks to seek out the expertise and deep knowledge that these individuals bring. Former intelligence officials, soldiers, and diplomats are being hired in greater numbers, and these positions offer significantly higher pay compared to government service.

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