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[1/2] Gary Cohn, former director of the U.S. National Economic Council, speaks at a Reuters Newsmaker event in New York City, U.S. September 17, 2018. REUTERS/Jeenah Moon
Jan 5 (Reuters) – Gary Cohn, former economic adviser to US President Donald Trump and former president of Goldman Sachs Group Inc (GS.N), has been appointed vice chairman of International Business Machines (IBM.N), the technology company Giant said on Tuesday.
He will be part of IBM’s leadership team and will work in business development, customer service, public advocacy and customer relationship management, IBM said in a statement. (https://ibm.co/3nexgCo)
Cohn was Trump’s top economic adviser from January 2017 to April 2018, and before that he was Goldman Sachs’ president and chief operating officer for a decade.
He spent 26 years at the bank and announced last month that he would make a charitable donation in penance for Wall Street bank’s involvement in Malaysia’s 1MDB sovereign wealth fund corruption scandal, rather than repay compensation to Goldman Sachs.
The bank was under investigation for its involvement in raising $6.5 billion through three bond sales between 2012 and 2013 for sovereign wealth fund 1Malaysia Development Berhad (1MDB).
Goldman reached a settlement in October to settle the investigation and agreed to pay $2.9 billion in total penalties and said the company would recover $174 million in executive compensation.
Cohn raised $720 million in an IPO for a new blank check acquisition company last year and has investments in cybersecurity, blockchain infrastructure, regulatory technology and medical technology. (https://reut.rs/3b6Hhz3)
Reporting by Noor Zainab Hussain in Bengaluru; Edited by Arun Koyyur
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