Lloyd Blankfein's oldest son quietly landed one of the best jobs in finance
Remember Alex Blankfein? He's the 30 year old son of Goldman Sachs CEO Lloyd Blankfein. Last time we caught up with him, he'd spent around three years at Goldman Sachs working in cross asset sales, followed by an MBA at Harvard Business School, followed by a job at Bain & Co. Now though, he's working as a senior associate at Carlyle Group - one of the world's most prestigious private equity companies.
Alex Blankfein's arrival at Carlyle isn't recent - according to his publicly available profile he joined from Bain in April last year. However, it appears to have gone unnoticed by the world's media. Carlyle updated its page relating to Alex Blankfein last week. He's working on Carlyle's U.S. Equity Opportunities team, is 'focused on a broad range of middle-market buyout transactions,' and is based in New York City.
Private equity jobs are notoriously difficult to get and Carlyle is one of the most selective hirers of the lot. Alex Blankfein's move may have been indirectly facilitated by his father's closeness to David Rubenstein, Carlyle's founder. Rubenstein interviewed Lloyd Blankfein last month for his Bloomberg-hosted chat show.
Speaking at a London School of Economics conference last year, Rubenstein said the people who succeed in private equity are those who are in it for love rather than money: “You have to really love what you’re doing and you won’t find what you love until you’ve experimented a bit. Find something you really enjoy and then you can make a career out of it.” In this, Rubenstein echoed Lloyd Blankfein's own careers advice from several years earlier: success comes from being a "complete person", said Blankfein in 2013, adding that young people should have a "few years of experimentation."
In 2013 Blankfein said his own children ignored his careers wisdom. In fact, it seems Alex was listening: Blankfein's oldest son has experimented by notching up a range of top brands. He's worked for a top name investment bank, taken a top name MBA, joined a top name consultancy firm, and now he's at a top name private equity firm. Other millennials may want to take note.