Trump appoints a banking and real estate exec as the new GSA administrator
New Nominee for GSA Administrator: Edward Forst
Edward Forst, a seasoned Wall Street executive and private equity leader, has been nominated by President Donald Trump to become the permanent administrator of the General Services Administration (GSA).
Forst spent most of his career in the private sector, specifically in the banking and real estate sectors. He served as chairman and partner of Lion Capital, a London-based private equity firm, from 2020 to 2023. Before leading Lion Capital, Forst served as CEO of commercial real estate firm Cushman and Wakefield for two years.
Forst's notable background includes a 17-year tenure at Goldman Sachs where he was co-CEO of Goldman Sachs Asset Management, executive vice president, chief administrative officer, and chaired the Global Capital Commitments Committee. During the 2008 financial crisis, Forst left Goldman Sachs to become executive vice president and principal operating officer at Harvard University, overseeing non-academic operations and serving on the board of the Harvard Management Company. He also advised the U.S. Treasury Department during the crisis.
If confirmed by the Senate, Forst would take over at GSA during a time of leadership change. Reports suggest that other political appointees may be leaving as well. Michael Rigas joined the GSA as acting administrator last week.
The GSA is currently undergoing significant changes. According to its fiscal 2026 budget request, the agency is shrinking its workforce by more than 30 percent. The focus of Workforce Reimagined, a one-day virtual event hosted by the GSA on Aug. 26, is building a federal workforce that is skilled, resilient, and ready to meet evolving mission demands.
The Federal Acquisition Service (FAS) in GSA will focus on leveraging the Government's buying power to secure the best prices for the taxpayer while streamlining and consolidating Government-wide procurement through a whole-of-Government approach in fiscal 2026. Forst would need to bring in another deputy administrator as well as a new commissioner of the Public Buildings Service.
The Public Buildings Service (PBS) is requesting net zero obligational authority in addition to its anticipated annual revenues and collections for a total of $10.5 billion in Federal Buildings Fund (FBF) new obligational authority (NOA). This request comes after the announcement by Michael Peters, the current PBS commissioner, that he's leaving to return to the private sector.
Forst holds an MBA from Wharton and an AB in economics from Harvard. He currently serves on several boards, including Yale’s Jackson School of Global Affairs and the Feinstein Institutes for Medical Research at Northwell Health.
[1] Lion Capital's Investments [3] Forst's Board Memberships
- As Edward Forst's nomination as GSA Administrator moves forward, the revitalization of the federal workforce becomes a significant focus, notably through the Workforce Reimagined event, aiming to build a skilled and resilient federal workforce equipped to meet evolving mission demands.
- In politics and general-news circles, the reshaping of the federal workforce, including potential appointments like Forst as GSA Administrator and the impending departure of Commissioner Michael Peters from the Public Buildings Service, sparks discussions about the future direction and policies of the GSA, particularly in light of the agency's proposed changes, such as a 30% reduction in workforce and the FAS's strategy to secure better prices for taxpayers through streamlined procurement.
