The Associated Press May 27, 2011, 5:02PM ET

Goldman Sachs names ex-Sen. Gregg to advisory post

Goldman Sachs Group Inc. said Friday that it has hired former U.S. Senator Judd Gregg as an international adviser.

Gregg, a former Republican senator from New Hampshire, joins a group of 17 international advisers to the New York-based investment bank and its clients, and will assist in business development initiatives.

"Judd Gregg's experience and insight will contribute significantly to our firm and our continuing focus on supporting economic growth," said Chairman and CEO Lloyd Blankfein.

Gregg served three terms as senator before declining to seek re-election for the term that started in January 2011. Before his election to the Senate, he served two terms as governor of New Hampshire, and four terms as a congressman. In 2009, President Barack Obama nominated Gregg for the position of Commerce Secretary, but Gregg pulled his nomination after a change of heart about serving in the Democratic president's Cabinet.

"A strong financial sector is critical to our nation and one of the key engines of job creation in our country," Gregg said in a statement Friday. "I hope that I can bring to Goldman Sachs some ideas and perspectives that will help the firm continue to be a leader in supporting its clients in their pursuit of the capital, credit and advice they need to be successful."

Shares of Goldman Sachs rose $2.75, or 2 percent, to close at $138.66.


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