After leaving the military, Pete joined Lehman Brothers in New York as a Partner and head of the Public Finance Banking division. Under Pete’s tenure, Lehman Brothers provided the financial backing necessary for cities and states to make wholesale improvements in basic infrastructures: airports, roadways, power plants and water systems.
After four years with Lehman Brothers, and its successor firm, Pete felt the irresistible pull of public service, and devoted two years to building the foundation of a campaign and became the Republican nominee for the United States Senate from the state of New Jersey in 1988.
Although he ultimately fell short in a nationally-prominent campaign, it was for a purpose he continues to care deeply about – service to the nation.
In 1989, he joined the strategy consulting firm, Bain & Company, as head of its U.S. consulting practice. Pete led the firm through a complicated transition from the founding leadership to a new generation of managing directors. He prompted the firm’s expansion into the southwestern United States, and sponsored the development of a new business analytic – “Customer Loyalty” – that Fred Reichheld subsequently developed into one of Bain’s signature practices.