Gary Cohn
Gary Cohn | |
|---|---|
| Born | Gary David Cohn August 27, 1960 Shaker Heights, Ohio, U.S. |
| Occupation(s) | Entrepreneur, philanthropist, economic advisor |
| Years active | 1980s–present |
| Known for | 11th Director of the National Economic Council; President and COO of Goldman Sachs; Vice Chairman of IBM |
Gary David Cohn (born August 27, 1960) is a prominent American entrepreneur and philanthropist who held the position of the 11th Director of the National Economic Council and served as the chief economic advisor to President Donald Trump from 2017 until 2018. In this capacity, he oversaw the administration’s economic policy strategy. Prior to his government service, Cohn spent over 25 years at Goldman Sachs, ultimately becoming its president and chief operating officer. On January 5, 2021, he was named vice chairman of IBM.
Following his departure from the White House, Cohn transitioned into advisory and venture capital roles, focusing on sectors such as cybersecurity, blockchain infrastructure, and medical technology. He holds a position on the Board of Advisors for Hoyos Integrity, a startup developing biometric blockchain solutions for secure communication and digital payments, and also serves as vice chairman at IBM. Furthermore, Cohn leads the advisory board at Pallas Advisors, a Washington, D.C.-based firm specializing in national security strategic consulting.
Early life and education
Born into an Eastern European Jewish family, Gary Cohn is the son of Victor and Ellen Cohn and grew up in Shaker Heights, Ohio. His father initially worked as an electrician before moving into real estate development. Diagnosed with dyslexia during his early years, Cohn attended four different schools by the time he reached sixth grade. His experiences with dyslexia were highlighted in Malcolm Gladwell’s book David and Goliath. He completed his secondary education at Gilmour Academy in 1979.
Cohn earned a Bachelor of Science degree in business administration from American University in 1982.
Career
Cohn started his professional journey at the U.S. Steel home products division located in Cleveland, Ohio. Shortly thereafter, he transitioned to working as an options trader at the New York Mercantile Exchange, acquiring foundational knowledge through self-study during this period.
In 1990, he joined Goldman Sachs, achieving partner status by 1994. He climbed through several leadership roles including head of the commodities division in 1996, leader of Fixed Income, Currency and Commodities (FICC) in 2002, co-head of Equities in 2003, and co-head of global securities businesses in 2004. By June 2006, he had been promoted to president, co-chief operating officer, and director. Additionally, he was a member of Goldman Sachs’ board and chaired its Firmwide Client and Business Standards Committee.
In 2010, Cohn appeared before the United States Congress to address Goldman Sachs’ role in the 2008 financial crisis, emphasizing that the firm incurred losses totaling $1.2 billion related to residential mortgage activities and denying allegations that it had bet against its clients.
On January 5, 2021, Cohn was appointed Vice Chairman of the board of directors at IBM.
National Economic Council Director
Cohn began his tenure as Director of the National Economic Council on January 20, 2017, within President Donald Trump’s administration—a role that does not require Senate confirmation. By February that year, The Wall Street Journal described him as an "economic-policy powerhouse," while The New York Times identified him as Trump’s leading advisor on employment, business development, and economic growth. Prior to key appointments such as Treasury Secretary Steven Mnuchin, Cohn pushed forward initiatives involving tax reform, infrastructure investment, financial regulation changes, and healthcare policy adjustments. Alongside receiving a $285 million severance from Goldman Sachs, he divested a $16 million holding in the then-largest global bank—the Industrial and Commercial Bank of China.
Cohn supported reviving the provisions of the Glass-Steagall Act to separate commercial banking from investment banking activities. Within the Trump administration, he was considered a supporter of globalism, earning nicknames like "Globalist Gary" and "Carbon Tax Cohn." Together with figures such as Jared Kushner and Ivanka Trump, he was seen as part of the administration’s "Wall Street wing," frequently clashing with populist elements led by Steve Bannon and trade advisor Peter Navarro, who advocated for tariffs and adopted a tougher stance on China.
He led efforts to enact the Tax Cuts and Jobs Act of 2017, highlighting outcomes including an increase of $6,000 in real disposable income per household and creation of seven million jobs as indicators of success. After the 2017 Charlottesville rally, Cohn reportedly considered resigning due to dissatisfaction with the administration’s response; he called for unequivocal condemnation of white supremacist groups.
In September 2017, following a reorganization that merged the Office of Trade and Manufacturing Policy into the NEC, Navarro became subordinate to Cohn. On March 6, 2018, Cohn announced his resignation after President Trump proposed tariffs on steel and aluminum—measures opposed by Cohn—and canceled a meeting with industry leaders that Cohn had arranged. Larry Kudlow replaced him on April 2, signaling a shift toward economic nationalist policies within the administration.
Bob Woodward’s 2018 book Fear: Trump in the White House portrays Cohn intercepting draft letters from President Trump intended to terminate key trade agreements with South Korea and withdraw from NAFTA. Despite leaving office, Trump reportedly maintained high regard for Cohn, calling him a "rare talent" who performed "superbly." Following Trump's success in the 2024 United States presidential election, Cohn has taken on the role of a "Trump ambassador" on Wall Street, influencing appointments and policy decisions within the new administration.
Venture capital
Following his departure from the White House, Cohn transitioned into roles as a venture capital investor and advisor, concentrating on sectors such as cybersecurity, blockchain technology, and digital payment systems. He holds board positions at Spring Labs, a blockchain enterprise focused on consumer credit data sharing, and Sotera Digital Security, a company that produces secure mobile devices for governmental and corporate users. Additionally, Cohn offers strategic counsel to Machine Zone and Abryx, a firm specializing in biomaterial science. At Sotera Digital, he plays a key role in shaping strategy and overseeing the deployment of advanced secure mobile technologies.
In April 2020, Cohn became a member of the Risk & Governance Advisory Board at Starling, a company dedicated to applied behavioral sciences.
By August 2020, Cohn collaborated with investor Clifton S. Robbins to establish Cohn Robbins Holdings Corp., aiming for a $600 million initial public offering for their blank-check company.
Harvard Kennedy School
In 2019, Cohn served as a visiting fellow at the Institute of Politics within the Harvard Kennedy School, where he co-led a seminar alongside former U.S. Senator Heidi Heitkamp that addressed economic, demographic, and national security policies. The course emphasized structural challenges related to economic and demographic shifts. Other fellows during the Spring 2019 term included Mayor Andrew Gillum, Representative Carlos Curbelo, and Mayor Mitch Landrieu.
During his tenure at Harvard, Cohn directed the Road to 2092: Save Social Security policy hackathon organized by the Harvard Institute of Politics. This event attracted over 250 students from 28 universities; the victorious team presented their policy proposal at both the U.S. Capitol and the White House and received coverage on MSNBC.
Personal life
Cohn is married to Lisa Pevaroff-Cohn. The couple has three daughters and resides in New York City.
Philanthropy
Together with his wife, Cohn is a founding board member of the New York University Child Study Center. In 1999, they endowed the Pevaroff Cohn Professorship in Child and Adolescent Psychiatry at the New York University School of Medicine. He has also funded the Gary D. Cohn Endowed Goldman Sachs Chair in Finance as well as the Gary D. Cohn Scholarship at American University, his alma mater. In 2015, Cohn created the Gary D. Cohn and Brother Robert LaVelle Endowed Scholarship to honor Brother Robert LaVelle upon his retirement after 35 years leading Gilmour Academy, where Cohn attended high school.
In 2009, following a donation from Cohn and his wife, the Hillel International building at Kent State University was named the Cohn Jewish Student Center—the first Hillel facility located on a public university campus.
Cohn is an advocate for Reviving Baseball in Inner Cities and has supported Harlem RBI (now DREAM) since 2011, assisting in fundraising efforts to establish its charter school. On June 17, 2013, he received recognition at Harlem RBI’s "Bids for Kids" gala. In 2015, Cohn secured $360,000 for Harlem RBI by winning Bloomberg's Brackets for a Cause competition.
Memberships
Cohn actively participates in philanthropic efforts centered on education and healthcare. He serves on the Board of Trustees for NYU Langone Health and is a member of the Board of Overseers at NYU Tandon School of Engineering.
In 2010, NYU Langone Medical Center's Hospital for Joint Diseases appointed him chairman of its Advisory Board. He has also been a trustee at both American University and Gilmour Academy.