Ex-Pennsylvania Governor Ed Rendell has joined the investment bank Greenhill & Co. as a "senior adviser" in hopes he can bring the firm deals buying up state assets.
"Rendell will focus on expanding Greenhill’s client advisory activities in public-private partnerships, infrastructure projects and advising governments on various financial matters," Greenhill said in a statement. That means Rendell will try to work more deals like the one he tried and failed to close, that would have leased the Pennsylvania Turnpike to Citigroup and a couple of Spanish companies, so Greenhill can collect fat advisory fees.
How'd Rendell land this gig? He's well known at Greenhill as an advocate of privatizing public assets: Rob Collins, the ex-Morgan Stanley banker who advised Rendell on the aborted Turnpike deal, now runs the infrastructure finance group at Greenhill. Deal!
Rendell, the loud-spoken onetime Philadelphia mayor and US Democratic Party leader, is also back at his old law firm Ballard Spahr, writing a column for the Philadelphia Daily News (the People's Paper), and, we expect, ranting on cable TV about the Eagles, the Republicans, etc.