After House Majority Leader and Virginia representative Eric Cantor’s devastating primary loss, he became a hot commodity to many private sector businesses reports POLITICO. However, Cantor was not interested in being a high-paid trophy for a corporation or lobbying firm.
After meetings with several high profile lobbyists and headhunters, including J.P. Morgan Chase, Cantor took a position with Wall Street band Moelis & Co. Cantor was attracted to the boutique firm because of the more entrepreneurial rather than bureaucratic environment. His official title will be vice chairman and managing director.
Cantor has no formal Wall Street experience and has never counseled companies on business decisions so he will face a steep learning curve. While the cultures of Wall Street and Washington are eerily similar, the language and logistics of the winner-take-all attitudes are vastly different.
While serving his seven-terms in Congress Cantor had a chief interest in the financial service industry and has experience brokering deals between the warring political parties and raised millions of dollars for Republicans. He is hoping to bring the international finance relationships he fostered in Washington to Wall Street to make his company, and many more a lot of money. Only time will tell if Cantor has the flexibility to adapt to be a success in his new career path.