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Pentagon headhunting Goldman, JPMorgan bankers for ‘Economic Defense Unit’
Key Excerpts from Article on Website of Semafor
Posted: April 6th, 2026
https://www.semafor.com/article/03/11/2026/pentagon-headhunt...
The Pentagon is building a new team of investment bankers steeped in private equity to invest $200 billion over three years in defense deals, aiming to counter China’s rise, according to a document reviewed by Semafor. The Defense department is specifically going after Goldman Sachs, Morgan Stanley, JPMorgan, and Bank of America as prime recruiting targets for the 30-person team, the headhunter brief outlines, explaining that “this is not a career move, but a two-to-three-year secondment program.” The document, prepared by search firm Heidrick & Struggles, pitches a chance to “serve your country” and deploy “more capital than most investors deploy in their entire careers” (and, ostensibly, an opportunity to sell a bunch of stock tax-deferred). Wall Street ... employs thousands of “coverage bankers” who stay close to companies in specific industries. Forming its own “Sponsor Coverage” unit inside the Pentagon would allow the defense department to have a team of its own bankers that service private-equity firms and pitch deals critical to national security, provide advice, and arrange loans. As part of the agency’s pitch to lure more heavy hitters from Wall Street, it’s deriding the “peak neoliberalism” of the 1990s that invited China into the global economic order, prioritized outsourcing, and, in the Pentagon’s view, left the US vulnerable ... according to the document. “The mission: helping deter our largest adversary from gaining military superiority.”
Note: For more along these lines, read our concise summaries of news articles on corruption in the financial industry and in the intelligence community.
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