Ambassador Joins Goldman, Stays in Singapore
Former Atlanta lawyer David Adelman has stepped down as U.S. ambassador to Singapore, but he's decided to stay in Southeast Asia. Adelman has joined Goldman Sachs as a managing director and is heading the firm's government affairs for the Asia-Pacific region.
Adelman will oversee Goldman Sach's public policy agenda in the region and manage its relationships with regulators and policymakers, according to an internal announcement that Goldman Sachs provided to the Daily Report.
"Caroline and I miss our friends in Atlanta and I look forward to getting back there as much as possible," Adelman said in an email to the Daily Report.
He will continue to be based in Singapore for now and relocate to Hong Kong next year, the Goldman Sachs memo said.
Adelman, his wife and their three children moved to Singapore in April, 2010. The Atlanta native, 49, had been a partner at Sutherland, Asbill & Brennan. He served in the Georgia Senate from 2003 until resigning in 2010 to move to Singapore. A Democrat, he represented the 42nd District and served as minority whip.
Kirk Wagar, also a lawyer, succeeds Adelman as the ambassador to Singapore. A plaintiffs lawyer from Miami, Wagar was sworn in Sept. 4. Like Adelman, he was a major supporter of President Barack Obama's election campaign, serving as Florida finance chair for Obama's 2008 and 2012 campaigns.
U.S.-Singapore ties strengthened under Adelman's tenure. The city-state is a crossroads for trade in Southeast Asia and a key U.S. trading and military partner.
Singapore has become the top destination for American foreign direct investment in the Asia-Pacific region, Adelman told The Straights Times in an Aug. 26 interview. Cumulative 10-year investment at the end of 2012 was $138 billion—surpassing U.S. investment in Japan or Australia and twice the U.S. investment in China for the period.
"It is a credit to the government of Singapore that it has created this very hospitable business climate in probably the best location in the world," Adelman told The Straights Times.
Adelman also led eight regional trade missions while ambassador, including the first American business delegation to Myanmar in 2012, according to Goldman Sachs.