Zoellick Will Join Harvard Upon Leaving World Bank

Major insider Robert B. Zoellick, who I believe has a soft spot for gold, said he would join the Belfer Center for Science and International Affairs at Harvard University and the Peterson Institute for International Economics in Washington DC after he steps down as World Bank Group President on June 30.

Zoellick will become the Peterson Institute’s first Distinguished Visiting Fellow as well as also becoming a Senior Fellow at the Belfer Center at the Kennedy School of Government at Harvard.

Although Zoellick is something of a friend to gold, he remains a major insider. The moves to academic institutions and policy institutes is not an unusual move for major players after leaving a government position. They usually add a more lucrative gig somewhere between six months and twelve months down the road.

For example, Peter Orszag, after leaving his position as director of the Office of Management and Budget, first moved to the Council on Foreign Relations, where he became a Distinguished Visiting Fellow, before he grabbing his real bankster payoff by becoming Vice Chairman of Global Banking at Citigroup.

Before his term at the WB ,Zoellick served as Vice Chairman, International, of the Goldman Sachs Group as well as Managing Director and Chairman of Goldman Sachs’ Board of International Advisors from 2006-2007. Previously, he was Deputy Secretary of State in 2005-2006 and a member of the Cabinet as U.S. Trade Representative from 2001 to 2005.

From 1985 to 1993, he served at the Treasury and State Departments in various posts, as well as White House Deputy Chief of Staff.

The man knows how to spin the revolving door.