Sidney Weinberg

Sidney James Weinberg (October 12, 1891 – July 23, 1969) was a long-time leader of the Wall Street firm Goldman Sachs, nicknamed “Mr.

His family were active members of Congregation Baith Israel Anshei Emes in Brooklyn, joining when the synagogue was on Boerum Place, and remaining with it when it moved to Cobble Hill.

Sidney joined the workforce at the age of ten "selling newspapers at the Manhattan-Brooklyn ferry terminal, shucking oysters, and carrying feathers for a milliner.

[5] Weinberg started with Goldman Sachs as a janitor's assistant at $3/week, where his responsibilities included brushing the firm's partners’ hats and wiping the mud from their overshoes.

Indeed, in 1933, Roosevelt assigned Weinberg the task of organizing a group of corporate executives- called the Business Advisory and Planning Council – to serve as a bridge between the government and the private sector during the economic upheaval of the New Deal.

Weinberg handpicked executives with whom he wanted to develop business relationships, and deliberately invited no other investment bankers to join the Council, putting himself in the perfect position to network.

[8] When the United States entered World War II in 1941, Weinberg played an active role in engaging America's private sector to overcome the nation's considerable financial, industrial, and organizational challenges.

General Motors CEO Charles Erwin Wilson said of Weinberg's service during this period: “His wide and influential friendships were invaluable in inducing outstanding men to come to Washington with us.”[8] Weinberg's position on the War Production Board helped him to forge close personal relationships with many of America's top young businessmen.

When the war ended, many of these executives hired Weinberg as their investment banker, thereby boosting the prestige of Goldman Sachs’ client engagements.

While enormous, Ford Motor Company faced considerable financial and strategic challenges transitioning from military manufacturing to a peacetime economy.

Weinberg helped Ford to recruit a group of new executives including Ernie Breech and Theodore O. Yntema to revitalize the struggling automobile company.

President John F. Kennedy meets with members of the Business Council (formerly the Business Advisory Council) in Cross Hall, White House, Washington, D.C., in 1961. (left to right) Leonard F. McCollum; Roger Blough ; President Kennedy; Sidney J. Weinberg.