World Bank’s Goldstein Joins Hellman & Friedman

Jeffrey Goldstein has returned to the for-profit markets, after spending the past five years as CFO, managing director and management committee member of the World Bank. Goldstein was tapped earlier this month to be managing director in the New York office of Hellman & Friedman, a San Francisco-based private equity firm. Goldstein is expected to scout out global investment opportunities in the financial services sector.

“I loved the World Bank, have enormous respect for the people there and a great admiration for its mission,” says Goldstein, shortly after returning from a pre-job vacation in the Caribbean. “But the majority of my professional life has been in-market, and in the for-profit world, so this is really a return to my roots.”

Prior to joining the World Bank in 1999, Goldstein served as co-chairman of BT Wolfensohn and as a member of the Bankers Trust Co. management committee. Among his colleagues during those 15 years at Wolfensohn were Brian Powers, current Hellman & Friedman CEO, and Patrick Healy, a Hellman & Friedman managing director in charge of the firm’s London office. Once Goldstein decided to leave the World Bank and move out of Washington D.C., Healy and Powers were among the first people he thought of.

“At both the Bank and at Wolfensohn, I was advising firms that were essentially at inflection points, and I feel that Hellman & Friedman gives me an opportunity to do the same thing, but as an investor,” he explains. “The firm has a tradition of providing transition capital and functioning with firms that are at those inflection points, but also pays a lot of attention to the people running businesses, instead of just to the businesses themselves.”