A headhunting presentation aimed at recruiting Wall Street investment bankers to the Pentagon dangled access to government officials and foreign royal families that could be used to raise capital in the future, according to a slide deck viewed by The New York Times.<\/p>\n
The presentation says that the Pentagon is seeking to build a 30-person investment team to deploy up to $200 billion in government investment over the next three years. Joining the team offers \u201cunmatched access to top-level government officials and privileged information flow \u2014 whatever you need, you can get.\u201d<\/p>\n
\u201cIf you ever want to raise your own fund, you will gain access to fund-raising channels that include royal families and foreign sovereign contacts,\u201d the slide deck says.<\/p>\n
The document was prepared by Heidrick & Struggles, a headhunting firm. It is not clear whether Pentagon staff members approved or dictated the content of the presentation, which features an agency logo.<\/p>\n
The Defense Department declined to comment. Heidrick & Struggles did not immediately respond to a request for comment. The presentation was earlier reported by Semafor<\/a>.<\/p>\n Officials in and around the Trump administration have continually blurred the lines<\/a> between public service and individual profit seeking.<\/p>\n The president\u2019s family continues to profit off a cryptocurrency venture<\/a> that has received investment<\/a> from foreign officials also negotiating with the government. David Sacks, the White House A.I. czar, has promoted policies that could benefit<\/a> stakes he holds in hundreds of A.I. companies. In January, Howard Lutnick, the commerce secretary, extended a loan<\/a> to a company that was also doing business with his former firm, which is now run by his sons.<\/p>\n The Pentagon recruiting effort dangles both money and access, offering Wall Street recruits the opportunity to manage \u201cmore capital than most investors deploy in their entire careers.\u201d Salaries could reach as much $300,000 at the Pentagon, or $500,000 to $600,000 \u201cif employed through a government-aligned nonprofit.\u201d According to federal statistics, the average pay for a federal worker is about $100,000, and only about 3 percent<\/a> make $200,000 or more.<\/p>\n The investment teams would focus on an array of industries and technologies, including undersea cables, minerals extraction and refining, strategic logistics, munitions, drones, satellites and energy generation. The Trump administration has been trying to invest to build up critical industries domestically, to reduce what national security officials see as a dangerous dependence on foreign countries, including potential rivals like China.<\/p>\n