Baupost Risk Chief To State Department

Mar 14 2014 | 9:21am ET

The U.S. State Department is turning to a long-time Baupost Group executive to help firms both foreign and domestic do business abroad.

Scott Nathan was named special representative for the Office of Commercial and Business Affairs, charged with handling relations between the business community and State. He left his post as chief risk officer at Boston-based Baupost last month.

Nathan is a major Democratic fundraiser, and met Secretary of State John Kerry in 2002, when Kerry was seeking re-election to the U.S. Senate from Massachusetts. The two have remained in touch since.

“I took this job because Secretary Kerry told me how committed he is to making the State Dept. the friend of American businesses abroad, and I wanted to help him and the rest of his economic team put that into action,” Nathan said. “I believe that in today’s interconnected world, foreign policy is economic policy, important for our companies and key to greater stability and prosperity abroad and more jobs and growth at home.”

Nathan had been with Baupost since 1995.

“Scott has long shown a deep interest in government service, and the opportunity for him to serve the nation is a perfect fit for someone of his experience, interests and skills,” Baupost founder Seth Klarman told clients recently.

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