Goldman Banker Quits to Join Biden’s Made-in-USA Chips Push
- Linga trades Wall Street role for $183,500 government job
- Program aims to make US a leader in advanced semiconductors
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The Biden administration has lured away a Goldman Sachs Group Inc. banker to help build a program that will act as a quasi-investment firm to ramp up US semiconductor production amid a growing feud with China over technology leadership and security.
Srujan Linga, who’s been at the Wall Street giant for 16 years, will take a role within the Commerce Department to help invest more than $50 billion and make loans as part of the CHIPS for America program. Linga, a 39-year-old managing director at Goldman, will be swapping a position where his compensation approached $5 million in some recent years for the $183,500-a-year government job.