It is also reported that Barroso’s expertise in dealing with the financial fallout of Brexit was another factor in him being appointed to the position.
While the move has been criticised by leftist MPs both in Lisbon and Strasbourg, the European Commission said this week that his appointment does not pose any ethical or legal concerns as it fits in with norms and regulations of European institutions.
José Manuel served as president of the European Commission from 2004 to 2014, and as prime minister of Portugal from 2002 to 2004.
According to a statement issued by the investment bank Barroso’s “perspective, judgment and counsel will add great value to our GSI Board of Directors, Goldman Sachs, our shareholders and our people.”
Having first been elected to the Portuguese Parliament in 1985, José Manuel served as state secretary for home affairs, state secretary for foreign affairs and cooperation, and minister for foreign affairs in successive governments.
In 1999, he was elected president of the Social Democratic Party and became the leader of the opposition. Prior to his political career, José Manuel’s academic positions included visiting professor at Georgetown University.
Most recently, he was Frederick H. Schultz Class of 1951 visiting professor of International Economic Policy and a policy fellow at the Liechtenstein Institute, Woodrow Wilson School, at Princeton University.
He is also visiting professor at the Católica University in Lisbon and at the University of Geneva and the Graduate Institute of International Relations in the same city.
Founded in 1869, Goldman Sachs is headquartered in New York and maintains offices in all major financial centres around the world.