00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The Pentagon is assembling a team of Wall Street investment bankers to manage a $200 billion
00:07defense investment initiative aimed at countering China's growing influence,
00:11according to Semaphore. The Department of War is recruiting bankers from Goldman Sachs,
00:16Morgan Stanley, JPMorgan Chase, and Bank of America to form a 30-person economic defense
00:21unit under a two-to-three-year secondment program. The initiative will run as a two-to-three-year
00:26secondment program and deploy capital across strategic defense priorities as the U.S.
00:31shifts toward economic security as a core element of national defense. Recruitment materials prepared
00:37by Hydrick and Struggles pitch the role as a chance to manage large pools of capital while
00:42advising senior government officials. The Department of War did not immediately respond
00:46to Benzinga's request for comment. For all things money, visit Benzinga.com.
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