Stephen Berger

Stephen Berger
Stephen Berger
Born	July 11, 1939 (age 87); Manhattan, New York City, U.S.
Occupation(s)	Entrepreneur, investment banker, civil servant, political consultant
Years active	1960s–present
Known for	Chairman of New York State Commission on Health Care Facilities in the 21st Century; Executive Director of the Port Authority of New York and New Jersey; Chairman of the United States Railway Association; Executive Director of New York City's Emergency Control Board

Stephen Berger (born July 11, 1939) is a prominent American figure known for his work as an entrepreneur, investment banker, civil servant, and political consultant. His career in public service includes leadership positions such as Chairman of the New York State Commission on Health Care Facilities in the 21st Century, Executive Director of the Port Authority of New York and New Jersey, Chairman of the United States Railway Association during President Jimmy Carter’s administration, and Executive Director of New York City's Emergency Control Board.

Berger has held chief executive roles across both public institutions and private enterprises. His professional experience extends to serving on corporate boards, acting as a director, and engaging in private equity investment. Additionally, he contributed academically by teaching Public Administration at the Graduate School of Public Administration at New York University.

Early life and education

Raised on Manhattan’s Lower East Side, Berger was born into a politically engaged family. His father, Saul Berger, was an attorney who actively pursued political office as an anti-Tammany candidate for State Senate and City Council. His mother, Paula Rosenzweig Berger, held a two-year position as a Democratic co-leader within their district.

Berger attended public schools in New York City and graduated with Honors in Science from Stuyvesant High School in 1955. He then achieved a magna cum laude bachelor's degree in history from Brandeis University in 1959.

Entry into politics

Berger’s political journey began with involvement in the 1960 presidential campaigns of Adlai Stevenson and John F. Kennedy. In 1964, he successfully managed the congressional campaign of underdog Jonathan B. Bingham in the Bronx, overcoming the entrenched Democratic leader Charles A. Buckley. From 1964 to 1968, Berger served as executive assistant to Congressman Bingham. He further managed Bronx Borough President Herman Badillo’s 1969 mayoral primary campaign and played a key role in Richard Ottinger’s 1970 U.S. Senate campaign.

The Rockefeller Commissions, 1972–1974

During the early 1970s, Berger held significant positions under Governor Nelson Rockefeller. Between 1972 and 1973, he acted as executive director of The New York State Study Commission on New York City (also known as the Scott Commission), which recommended extensive reforms across social services, fiscal management, healthcare systems, and governmental organization. This commission anticipated a multi-billion dollar budget shortfall prior to the fiscal crisis that struck New York City in the mid-1970s.

From 1973 to 1974, Berger worked as a consultant for the Rockefeller Commission on Critical Choices for Americans, where he evaluated national resource allocation and economic issues to aid in developing long-range policy strategies.

Carey administration and New York City’s fiscal emergency, 1975–1977

Berger entered Governor Hugh Carey's administration (1975–1982) initially as a planning specialist, subsequently advancing to the positions of New York State Commissioner of Social Services and Social Welfare Board Member.

During the financial turmoil that gripped New York in 1976, Carey designated Berger as executive director of the New York State Emergency Control Board for New York City. In this capacity, Berger was responsible for scrutinizing the city's $12.5 billion budget and formulating a strategy that reinstated the city's ability to access credit markets, thereby enabling its economic stabilization.

New York University

Upon concluding his tenure with the Emergency Control Board in late 1977, Berger took on a part-time professorship at New York University's Graduate School of Public Administration, where he instructed students for over six years.

Metropolitan Transportation Authority

In 1979, Governor Carey appointed Berger to the Board of the Metropolitan Transportation Authority, which manages the subway systems, buses, and commuter rail services of New York City. He also served as chair of the MTA's finance committee during this period.

Jimmy Carter and United States Railway Association

On February 26, 1980, President Jimmy Carter nominated Berger to serve as chairman of the board of the United States Railway Association, a federal entity created to establish and finance the Consolidated Rail Corporation (Conrail) by consolidating six bankrupt railroads and overseeing its operational performance.

The Port Authority of New York and New Jersey, 1985–1990

Governors Mario Cuomo of New York and Thomas Kean of New Jersey appointed Berger as executive director of the Port Authority of New York and New Jersey beginning October 1, 1985. He maintained this leadership role until 1990, managing critical infrastructure including airports in both states, port operations, interstate tunnels and bridges, commuter rail services, and significant real estate holdings such as the World Trade Center.

Berger led a $6 billion capital improvement initiative aimed at upgrading key facilities like John F. Kennedy International Airport, LaGuardia Airport, Newark Liberty International Airport, the World Trade Center, marine terminals, bus terminals, and commuter railroads. Additionally, he executed a major organizational restructuring within the agency, which at that time employed roughly 9,500 personnel with an annual budget of $2.2 billion. His tenure also saw the revival of ferry service between Hoboken and New York after a suspension lasting 22 years.

Corporate advancement and financial leadership

After 1977, Berger shifted towards Wall Street roles with senior executive positions at Oppenheimer & Company (1981–1983) followed by Odyssey Partners (1983–1985).

GE Capital

Between 1990 and 1993, Berger held the roles of chairman and CEO at Financial Guaranty Insurance Co., a municipal bond insurer under GE Capital. In 1992, he advanced to Executive Vice President of GE Capital. His responsibilities encompassed oversight of multiple divisions including Corporate Finance, Private Equity, Railcar Services, Transport International Pool, GE Capital Modular Space, and Financial Guaranty Insurance.

Berger also directed GE Capital’s growth into insurance annuities through strategic acquisitions such as Great Northern Annuity Insurance Company from Weyerhaeuser and United Pacific Life Insurance Company from Reliance Group. He stepped down from his position at GE Capital in 1993.

Odyssey Partners

After an eight-year hiatus, Berger rejoined Odyssey Partners L.P. in 1993 as a general partner. Four years later, in 1997, he co-established Odyssey Investment Partners, LLC, a private investment firm based in New York that manages the private equity activities of Odyssey Partners. He currently holds the position of Chairman at Odyssey Investment Partners.

Recent public service

Berger serves on the board of the Partnership for New York City and previously co-led the Governor's Committee on Scholastic Achievement.

Between 2003 and 2005, he chaired the Governor's Task Force on Health Care Reform. In 2005, Governor George Pataki appointed him to head the New York State Commission on Health Care Facilities in the 21st Century, commonly known as the Berger Commission. The commission’s 2006 findings triggered a significant overhaul of New York’s health-care infrastructure, leading to nine facility closures and 48 restructurings despite resistance from certain executives, political figures, and local communities.

Berger also contributed to Governor Andrew Cuomo's Medicaid Redesign Team during 2010–2011, where he led the Health System Redesign Group focused on reorganizing hospitals and primary care centers in Brooklyn.

He participates in the State's Value Based Pricing Committee and is part of the Project Approval and Oversight Panel responsible for managing New York’s distribution of $6 billion in federal Medicaid waiver funding under the Delivery System Reform Incentive Payment program.

In addition to his public service roles, Berger is Treasurer and a board member of the Metropolitan Opera, serving on its Executive Committee. He also acts as a Trustee at Brandeis University and chairs its Resources (Finance) Committee.

In recognition of his public contributions, Berger was honored with the Felix Rohatyn Award for Public Service by the New York Citizen’s Budget Commission in 2023.

Quotes

Regarding Berger’s leadership of the New York State Commission on Health Care Facilities:

"Considering his reputation for tackling challenging assignments others avoid, we believe he is arriving fully prepared."

Often characterized as "sharp" and "assertive," Berger openly admits to being a fiscal disciplinarian. He explained, "I am," but emphasized that toughness entails honesty, inquisitiveness, and straightforward communication—traits vital for thriving in business.

In an interview with Crain's New York about Medicare reform, he remarked:

"(…) society avoids confronting issues concerning the final 180 days of life. Terminal patients frequently undergo extensive interventions that extend dying unnecessarily. Our focus remains on those living rather than those dying, which is unjust, ethically questionable, and extraordinarily costly."

Responding to suggestions to dismantle the large entity he once managed following the George Washington Bridge scandal, Berger stated: "Dividing the Port into separate agencies might be simpler and tidier—but it would also be unwise."

Former New York City Mayor Ed Koch observed: "Two decades ago, having a conversation with Steve Berger meant you barely got a word in. Now he lets you talk for ten minutes every hour."

Personal life

On September 24, 1977, Berger wed Cynthia Wainwright, who serves as President of the Board at the Churchill School in New York City and directs The Bridge, an organization focused on mental health services. Together, they have two daughters named Robin and Diana.

Awards

NY NJ Metropolitan Award from the American Jewish Congress (1987)
Distinguished Public Service Award recognizing notable contributions to New York State, Rockefeller College of Public Affairs & Policy (1989)
Civic Achievement Award presented by B'nai B'rith (1989)
Special Tribute from the United Hospital Fund (2015)