This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Wall Street Fixer Goes to Washington

Nides' career trajectory is in large part a testament to his skill at navigating the complex web of social relationships to be found in any large organization. However, it is also a testament to the fact that, for the right person, at least--an entry level job in Congress or the White House can be at least as valuable as an Ivy League degree in getting to the top of corporate America.

Raised in Duluth, MN, Nides' mother was a school teacher. His father, who sold investments for American Express (AXP), ran into financial trouble at 60, having to "start over," as Nides puts it, when Nides was 10 years old. The youngest of seven children, Nides concedes he "didn't lack for attention." He had enough self-confidence as a teenager to secure then-Vice President Walter Mondale as graduation speaker at his high school.

U.S. Chief Performance Officer Jeffrey Zients says Nides is "taking the lead on something that's very important to the President, which is how do we help the U.S. regain market share in tourism."

After finishing college at the University of Minnesota, Nides helped out on Mondale's 1984 presidential campaign. He then went to work at the Democratic Congressional Campaign Committee for Tony Coelho, who later became majority whip in the House of Representatives. Nides moved up to working for former House Speaker Tom Foley, and then as chief of staff to U.S. Trade Representative Mickey Kantor, who says Nides played a critical role in getting the needed Congressional support for the North American Free Trade Agreement.

Nides then spent two years at Fannie Mae (FNMA.OB) running human resources, before joining Mack, who had become a friend, at Morgan Stanley when Mack was a rising executive in charge of the firm's fixed income department.

4 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
BX $38.79 -0.89%
CS $23.57 -1.20%
GS $187.24 -1.50%
JPM $61.02 -1.60%
MS $35.54 0.06%

Markets

DOW 17,862.69 -273.03 -1.51%
S&P 500 2,073.35 -27.69 -1.32%
NASDAQ 4,930.9190 -51.89 -1.04%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs