Goldman Sachs Group Inc's (GS.N) Ken Wilson will temporarily leave the firm to advise Treasury Secretary Henry Paulson on how to resolve the country's banking crisis, the Wall Street Journal said, citing people familiar with the matter.
Goldman's most senior financial-institutions banker, who has played a big role in capital raisings and reorganizations across the banking sector, will join Paulson to address issues from a more macro perspective, the paper said.
The move comes as the Treasury and Federal Reserve grapple with issues including the threat of bank failures, alarming capital levels and crises of confidence in important institutions such as Fannie Mae FNM.N and Freddie Mac FRE.N.
President George W. Bush made a personal call to Wilson in recent days, asking him to assist Paulson, the paper said.
Wilson is expected to serve without pay in a period through January, the paper said, citing people familiar with the matter.
A Goldman spokesman could not be immediately reached for comment.
(Reporting by Dhanya Skariachan in Bangalore; Editing by David Cowell)