Robert Hormats

Bob Hormats
Bob Hormats
Born	Robert David Hormats; April 13, 1943 (age 83); Baltimore, Maryland, U.S.
Occupation(s)	Economist, government official, author
Known for	Vice Chairman of Kissinger Associates; Under Secretary of State for Economic Growth, Energy, and the Environment (2009–2013)

Robert David "Bob" Hormats (born April 13, 1943, in Baltimore, Maryland) holds the position of Vice Chairman at Kissinger Associates.

Early life and education

Hormats completed his secondary education at Baltimore City College in 1961. He obtained a Bachelor of Arts degree in economics and political science in 1965, followed by a Master of Arts in Law and Diplomacy in 1966, and ultimately earned a Doctor of Philosophy in international economics from Tufts University in 1970.

Career

Between 2009 and 2013, Hormats occupied the role of Under Secretary of State for Economic Growth, Energy, and the Environment, which was formerly known as Under Secretary for Economic, Business, and Agricultural Affairs. Beginning in 1982, he served as Vice Chairman for Goldman Sachs (International). His earlier government roles include Senior Deputy Assistant Secretary (1977–1979) and Assistant Secretary of State (1981–1982) within the Bureau of Economic and Business Affairs.

From 1979 to 1981, Hormats was Ambassador and Deputy United States Trade Representative. Prior to that, from 1969 to 1977, he acted as senior economic adviser on the United States National Security Council to Henry Kissinger, Brent Scowcroft, and Zbigniew Brzezinski, playing a significant part in the Nixon administration’s establishment of diplomatic relations with China. His honors include the French Legion of Honor awarded in 1982 and the Arthur S. Flemming Award received in 1974.

Hormats has also delivered lectures at Princeton University and contributed to advisory boards at the Fletcher School of Law and Diplomacy at Tufts University as well as the Dean’s Council at Harvard’s John F. Kennedy School of Government.

Publications

His authored works encompass The Price of Liberty: Paying for America's Wars from the Revolution to the War on Terror; Abraham Lincoln and the Global Economy; American Albatross: The Foreign Debt Dilemma; and Reforming the International Monetary System. Additionally, he has written articles featured in publications such as Foreign Affairs, Foreign Policy, The New York Times, The Washington Post, The Wall Street Journal, American Banker, and The Financial Times.

Boards and membership

Hormats holds an honorary trustee position at the Institute for Education (IFE) and played a key role in founding the Center for International Education (CIE) at the Washington International School. His memberships include participation in Securing America's Future Energy (SAFE), the Economic Club of New York, the International Bank for Reconstruction and Development, the Irvington Institute for Immunological Research, and involvement with Engelhard Corporation. Previously, he was affiliated with organizations such as the Rockefeller Center Club, the Pacific Council on Foreign Policy, and Freedom House.

He is a board member of both the Overseas Private Investment Corporation (OPIC) and the Hungarian-American Enterprise Fund. Hormats is also part of the Trilateral Commission, a member of the Council on Foreign Relations, and serves on the board of overseers at Tufts University. His academic engagements include being a guest scholar at the Brookings Institution and a visiting lecturer at Princeton University. Furthermore, he sits on the board of directors for the Atlantic Council.

Perspectives

Hormats has advocated for legislation aimed at increasing U.S. investment in infrastructure through the creation of a national bank designed to support public-private partnerships in significant transportation initiatives. He stressed the critical need for collaboration between the public and private sectors to remedy the United States' transportation infrastructure, which currently trails behind that of international competitors. Hormats warned that without such advancements, the nation will struggle to accommodate its expanding trade volumes and population growth.

He supports strengthening intelligence operations, upgrading military hardware, and boosting financial resources for emergency services personnel such as firefighters and EMTs. Hormats has voiced apprehension that forthcoming government administrations might reduce homeland security budgets due to the political difficulties associated with raising taxes or cutting funding from non-defense areas. Additionally, he expressed concern that the declining popularity of the Iraq conflict could lead to a diminished U.S. military footprint abroad.

Highlighting the economic ties between China and the United States, Hormats argues that China has little incentive to undermine the dollar by calling back U.S. debt, describing this dynamic as MAD—mutually assured depression. In 2004, Goldman Sachs faced a $2 million penalty for improperly marketing Asian stocks prior to their initial public offerings. The SEC determined that Hormats and others engaged in unauthorized securities sales and made improper public remarks, including statements about PetroChina’s role in Darfur before its IPO, breaching disclosure regulations.

Personal life

Hormats is of Jewish heritage. On November 16, 2009, he was honored with the Executive Leadership Award by the Aish Center. In 2015, he married Catherine Azmoodeh; she is four decades younger than him, and this union marked the first marriage for both individuals.

External links

Hormat's Involuntary Profile, LittleSis