Dina Powell McCormick leaving Goldman for merchant bank role

A former Trump administration official is leaving her position as a top executive at Goldman Sachs to become a partner at the merchant bank BDT & MSD Partners. 

A release Tuesday states that Dina Powell McCormick, who served as deputy national security adviser for about a year, has been appointed vice chair and president of global client services for the bank, leaving Goldman Sachs after five years. She served as the global head of sovereign business and global head of sustainability and inclusive growth and held a seat on Goldman Sachs’s Management Committee and the Firmwide Client and Business Standards Committee. 

“I am thrilled to join BDT & MSD, a merchant bank with a unique legacy and mandate to serve the holistic needs of founders and family business owners,” Powell McCormick said in the release. 

The Wall Street Journal first reported the news of Powell McCormick’s new role. 

The release states that she previously worked for Goldman Sachs from 2007 to 2017 as the head of its Impact Investing Business and various other roles before joining the Trump administration. She led the development of the company’s inclusive growth initiatives, including ones specifically designed for small businesses, women and Black women, according to the release. 

Powell McCormick also served in several positions during George W. Bush’s presidency, including as assistant secretary of State for educational and cultural affairs, deputy undersecretary of public affairs and public diplomacy, and assistant to the president. 

Powell McCormick’s husband David McCormick served as undersecretary of the Treasury for international affairs also during the Bush administration and unsuccessfully ran for the Republican nomination for Senate in Pennsylvania last year. 

The release states Powell McCormick is also serving as chair of the Robin Hood Foundation Board and a trustee of the National Geographic Society Board.