Exec returns to Goldman after stint with ‘Government Sachs’

Goldman Sachs just rehired somebody back from “Government Sachs.”

Dina Powell, a Goldman alum who worked less than a year as an adviser to the Trump White House, is returning to the bank to work in government relations.

“Dina will focus on enhancing the firm’s relationships with sovereign clients around the world,” bank CEO Lloyd Blankfein wrote in a Feb. 27 letter to employees, according to Politico.

The moniker “Government Sachs” has referred to the fact that Goldman executives have consistently scored top-level jobs in Washington, such as former Treasury secretaries Robert Rubin and Hank Paulson, and Gary Cohn, who is currently head of Trump’s National Economic Council.

However, Powell’s round trip isn’t unprecedented. Stephen Friedman, for example, left as co-chairman of Goldman in 1994 to join the George W. Bush administration as head of the National Economic Council. In 2005, Friedman joined Goldman’s board of directors.

Powell had joined the administration on Jan. 20 and rose to a deputy adviser on strategy on the National Security Council in March. She left in January.

Powell was previously a partner at the Wall Street goliath and managed the bank’s $500 million foundation. Before that, she was the assistant secretary of state for Educational and Cultural Affairs in the State Department under George W. Bush.