In a move to counter China's growing influence, the Pentagon is reportedly putting together a team of investment bankers from leading Wall Street firms for a $200 billion defense investment initiative.
The Department of War is specifically seeking bankers from Goldman Sachs Group Inc.
The recruitment document, prepared by search firm Heidrick & Struggles, offers the bankers a chance to "serve your country" and manage "more capital than most investors deploy in their entire careers".
The unit will deploy $200 billion in defense investments over three years, marking a major shift toward prioritizing economic security.
The agency is courting top Wall Street talent by criticizing the "peak neoliberalism" of the 1990s-blaming policies like outsourcing and integrating China into the global economy for weakening U.S. supply security. It says the goal is to help deter major adversaries from gaining military superiority, while offering recruits direct access to senior government officials and privileged information.
The Department of War did not immediately respond to Benzinga's request for comments.
Pentagon Push Aligns With Economic Strategy
The Pentagon's move comes in the context of a broader shift in U.S. economic strategy. Earlier, President Donald Trump called for the creation of a sovereign wealth fund to promote the long-term financial health and international leadership of the United States. This new initiative seems to be a continuation of that vision.
Moreover, the Pentagon has previously demonstrated its willingness to invest in strategic industries. Earlier this year, it backed L3Harris Technologies Inc.
Furthermore, the involvement of bankers from JPMorgan Chase is notable. In October, the bank launched a $1.5 trillion Security and Resiliency Initiative to boost critical industries amid a 10-year strategy to support, finance, and invest in industries vital to national economic security and resilience.
