BOSTON (AP) — Deval Patrick has a new job.
The former Democratic Massachusetts governor will be joining the Boston firm Bain Capital to develop a line of so-called “social impact” investing to support causes from climate change to hunger.
Bain Capital was founded by Patrick’s predecessor in the governor’s office, Republican Mitt Romney.
Patrick told The Boston Globe (http://bit.ly/1DcMblc ) that the opportunity is “a chance to have real meaning and mission in my work.”
Patrick will become one of Bain’s managing directors, sharing in the profits of the firm. He will be the first African-American to take on that role at the firm.
Patrick last month passed on a consulting job promoting the city’s Olympic bid oversees that would have paid him $7,500 for each travel day.
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Information from: The Boston Globe, http://www.bostonglobe.com
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Given his wife’s close ties to Bain, given it’s a Boston Company and given what he has been tasked to do at Bain call me unsurprised nor terribly put out by this bit of news.
Interesting. Good luck to him. Bain has long ago divested itself of Lord Mittens of Romney, Esq., yes?
Neither am I. People do need to make a living and not everyone who works for a venture capital firm is bad.
Interesting responses, I’ll bet if the “D” after his name was replaced by an “R” these comments would be different. When it comes to the world of finanace there is only a sliver of different between centrist, Clintonesque Democrats and the republics. Now if true progressive Democrats like, say, Sanders or Warren made this move it would be a big surprise.
Umm, I thought Bain was a private equity firm. Is it now venture capital?