Former Fed Official Corrigan to Join Goldman, Sachs & Co.

E. Gerald Corrigan, the former head of the New York Federal Reserve Bank who played a critical role in preventing catastrophe after the October, 1987, stock market crash, has joined Goldman, Sachs & Co., the investment bank announced Tuesday.

Corrigan will lead the Wall Street firm’s international advisers group. His projects will range from such areas as privatization of state-run firms to efforts by foreign countries or companies to raise money, said Stephen Friedman, chairman of Goldman.

“Jerry Corrigan is one of the most highly respected central bankers in the world, and our clients and firm will benefit greatly from his exceptional judgment, knowledge of financial systems and leadership in the global financial community,” Friedman said in a statement.

Corrigan, 52, spent his entire career at the Fed until his departure in July.

“I was yearning for the opportunity to diversify a bit,” he said in his characteristic growl to a reporter on Tuesday. He said he was joining the firm because he respected its management and would be able to do special projects, rather than have day-to-day management responsibility.