Tuesday, July 22, 2008

Treasury Taps Wilson '69

Treasury Secretary Hank Paulson '68 has taken on fellow alum Ken Wilson '69 to help him sort out the financial mess the country is currently in. This is from today's Wall Street Journal (subscription required):
In Mr. Wilson, Mr. Paulson gets a formidable ally in navigating the current problems, with years of Wall Street experience and a Rolodex of well-placed friends and clients. Mr. Wilson, the head of Goldman's financial-institutions group, has served as Wall Street's go-to banker during the last year, as firms from Wachovia Corp. to National City Corp. have turned to him for advice on their mortgage woes. Helping burnish Goldman's reputation: During the current crisis, it has managed to avoid some of the big mistakes that have plagued rivals such as Lehman Brothers Holdings Inc. and Merrill Lynch & Co.

[. . .]

It is perhaps no surprise that Mr. Paulson, once the CEO of Goldman Sachs, called on his former colleague. The two men met at Dartmouth College, and Mr. Paulson helped recruit Mr. Wilson to Goldman. Once a year, the two head to Andros Island in the Bahamas for a few days of bonefishing. In a nod to Mr. Wilson's influence, Mr. Paulson gave him an office on Goldman's 30th floor, a power alley that includes current firm Chairman and Chief Executive Lloyd Blankfein.
Meanwhile, on one of the Journal's blogs, Heidi Moore remarks on the quiet presence of Dartmouth alumni all over the financial district.

(Photo is courtesy of Reuters.)

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