H&F rehires Goldstein from US Treasury

Jeffrey Goldstein has rejoined Hellman & Friedman as a managing director after leaving in 2009 to work for the US treasury. Goldstein will focus on financial services and LP liaison duties.

Hellman & Friedman has hired Jeffrey Goldstein, former US undersecretary of the treasury for domestic finance, as a managing director.

Goldstein, who was also counselor to the secretary of the treasury, rejoins Hellman & Friedman after leaving in 2009 to work for the US government. Goldstein will resume his prior investment focus on the financial services sector and take on new responsibilities “engaging with the firm’s limited partners”, according to a statement. He will be based in Hellman & Friedman’s New York office.

“Financial services has always been a key area of focus for us and [Goldstein] brings a wealth of experience and knowledge in the sector,” Hellman & Friedman chief executive officer Philip Hammarskjold said in the statement.

Prior to Goldstein’s first tenure at Hellman & Friedman from 2004 to 2009, he was chief financial officer of the World Bank. He had previously held the role of co-chairman of investment banking and financial advisory group BT Wolfensohn.

In October, Hellman and Friedman announced a deal for Pharmaceutical Product Development alongside The Carlyle Group for $3.9 billion. The announced deal came less than a month after Hellman & Friedman bought financial software company OpenLink from Carlyle for a reported 11x EBITDA multiple. Hellman invested in the company from its $8.9 billion seventh fund.