Meta taps Wall Street dealmaker Dina Powell – Business News
Meta has landed one of Wall Street’s most related dealmakers.
Dina Powell McCormick, the previous Goldman Sachs government with deep ties to massive swimming pools of capital, and leaders world wide, who has suggested two US presidents, is becoming a member of because the company’s first-ever president and vice chairman.
Powell McCormick, who spent a long time cultivating relationships with sovereign wealth funds at Goldman Sachs, is predicted to concentrate on securing strategic partnerships and overseeing Meta’s $600 billion infrastructure buildout over the following decade.
Dina Powell McCormick, the previous Goldman Sachs government who has suggested two presidents, is becoming a member of Meta because the company’s first-ever president and vice chair. Provided to NY Post
And that’s welcome information to buyers. The deal alerts that Meta — which has been spending billions on AI expertise over the past 12 months — is now open to world partnerships and capital.
“Dina’s experience at the highest levels of global finance, combined with her deep relationships around the world, makes her uniquely suited to help Meta manage this next phase of growth as the company’s President and Vice Chairman,” mentioned Meta Founder and CEO Mark Zuckerberg.
The transfer comes because the company goals to keep tempo within the AI arms race.
Meta has shelled out billions — together with a almost $15 billion deal with Scale AI’s Alexandr Wang for information labeling and different main AI investments — however buyers wish to see Meta faucet into exterior capital and prioritize the sort of strategic partnerships that its rivals are pursuing.
Turning to Powell McCormick comes as Meta races to keep tempo within the AI arms race. Mark Zuckerberg’s company struck a almost $15 billion deal with Scale AI’s Alexandr Wang for information labeling and different main AI investments. AP
Over the final 12 months, Nvidia, OpenAI, and xAI have aggressively pursued high-stakes partnerships and investments within the Middle East, capitalizing on the area’s sovereign wealth funds, power sources, and ambitions to develop into AI hubs amid a world scramble for compute energy and uncommon earths.
Powell McCormick started working with Zuckerberg after she joined the Meta board — which incorporates Stripe co-founder Patrick Collison, Andreessen Horowitz co-founder Marc Andreessen and UFC president Dana White — in April 2025. She left the board final month forward of taking up her new function.
She is leaving her place as vice chairman, president and head of world shoppers providers at BDT & MSD Partners however will stay on the firm’s advisory board. Powell McCormick is married to David McCormick, the previous CEO of Bridgewater Associates who’s now a republican Senator from Pennsylvania.
Powell McCormick, who spent a long time cultivating relationships with sovereign wealth funds at Goldman Sachs, is predicted to concentrate on securing strategic partnerships and overseeing Meta’s $600 billion infrastructure buildout over the following decade. by way of REUTERS
Powell McCormick is married to David McCormick, the previous Bridgewater CEO who received Pennsylvania’s US Senate seat in 2024. AP
Powell McCormick immigrated to the US from Egypt together with her household at age six, not talking a phrase of English. She went on to serve in two presidential administrations — as Deputy National Security Advisor during President Trump’s first time period, when she labored on the foundations that led to the Abraham Accords, and within the George W. Bush administration — earlier than rising to accomplice at Goldman Sachs.
There, she ran the firm’s sovereign wealth fund business and performed a key function in launching Goldman’s 10,000 Women and 10,000 Small Businesses initiatives, which offer entrepreneurs with business schooling, mentorship, and entry to capital.
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“My specialty is investing economic development dollars from around the world and the United States — being thoughtful about job creation and getting the most efficient infrastructure spending with real impact,” Powell McCormick advised The Post. JOHN G MABANGLO/EPA/Shutterstock
Powell McCormick is extensively revered by her friends on Wall Street. When she obtained the ABANA Achievement Award earlier this 12 months, IMF Managing Director Christine Lagarde referred to as her “the fearless woman who acts on the global scene as a bridge between the East and West.”
Goldman Sachs CEO David Solomon mentioned she has been “invaluable to leaders and countries all over the world,” whereas Blackstone CEO Stephen Schwarzman famous that “wherever Dina goes, she is enormously successful.”
Earlier this 12 months, JPMorgan CEO Jamie Dimon mentioned, “I’ve recognized Dina for about 20 years and run into her everywhere in the world. She’s an distinctive banker with excellent relationships. Clients have deep respect for her given her data, expertise (worldwide, on boards, in authorities), means to execute and ship, and the actual fact she works so exhausting.
“She is a better banker and has more or better relationships than many big finance CEOs. She’s the full package — doing it all at the most senior levels. To sum up, she’s a first-class banker, who combines amazing relationships, execution, smarts, character and hard work.”
