Mitt Romney joining son’s investment firm
Four months after losing the presidential election to Barack Obama, Mitt Romney is joining his son’s Boston investment firm, a Romney adviser said on Wednesday.
Romney, last year’s Republican presidential nominee, will serve as chairman of the executive committee at Solamere Capital.The Boston Globe obtained a letter sent Wednesday night to current Solamere investors.
“Governor Romney’s track record in the private equity field is extraordinary, and we are honored to have him more involved in the firm,” the letter included.
Romney’s son, Tagg Romney, co-founded Solamere in 2008 with Eric Scheuermann and Spencer Zwick, Mitt Romney’s finance chairman in his 2008 and 2012 presidential campaigns.
The former candidate set up an office at the firm’s Newbury Street location after the election, but at the time, aides said it was for personal use only.
A formal announcement is expected later this week. The move was first reported by NBC News.
Mitt Romney co-founded the private equity firm Bain Capital before serving as Massachusetts governor. He is scheduled to give his first speech since the election next week in Washington.
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