Wall Street years (1981–1993)

In January 1981, Holbrooke left government and became both senior advisor to Lehman Brothers[3] and vice president of Public Strategies, a consulting firm he formed with James A. Johnson, a former top aide to Walter Mondale. From 1985 until 1993, Holbrooke served as managing director of Lehman Brothers. During this time, he co-authored Counsel to the President, The New York Times best-selling memoirs of legendary Democratic wise man and Defense Secretary Clark Clifford, published in 1991. He was a top policy adviser to then-Senator Al Gore (D-TN) during his 1988 campaign for the Democratic presidential nomination. And four years later he advised Bill Clinton, in his quest for the White House.
Holbrooke also remained deeply engaged in prominent foreign policy issues. He visited Bosnia twice in 1992 as a private citizen and a member of the board of Refugees International, witnessing firsthand the damage and devastating human costs of the conflict. This experience committed Holbrooke to pursuing a more aggressive policy in Balkans, and drafting a memo to his colleagues, he urged that "Bosnia will be the key test of American policy in Europe. We must therefore succeed in whatever we attempt."[12]


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