Though it has now come to a screeching finish, Rep. Eric Cantor (R-Va.)’s leadership position in the House has brought him enduring connections, political clout and insider knowledge — in other words, potent K Street cred.

“He brings incredible contacts with the whole Republican caucus in both houses” of Congress, said Ivan H. Adler, a recruiter for the McCormick Group. “He certainly understands the process from the inside and can help play Sherpa, if you will, to any client.”

A Well-Oiled Revolving Door

A lawyer by trade, Cantor might be tempted to join a law firm with a government relations arm. “He would be an exceptional get for any law firm in the city,” said Adler, who added that several companies are already jostling for the chance to hire him.

Cantor has strong ties to a Virginia law firm and lobbying outfit called McGuireWoods LLP. Its employees alone have given his campaign over $150,000 over the years, making the company his second largest donor.

Moreover, many of Cantor’s former staff members and aides are already posted at various lobbying firms, in certain cases representing his most loyal political donors.

Former chief-of-staff Kyle Nevins now lobbies on behalf of Capitol Counsel, where he represents a number of big-name clients, including Blue Cross/Blue Shield, the fifth largest contributor ever to Cantor’s campaign. The health insurance giant gave him $15,000 through its political action committee just this cycle.

Nevins has also given to Cantor personally — as soon as he became a lobbyist: This election cycle, he gave Cantor $1,000, along with a $1,750 gift to his leadership PAC, Every Republican is Crucial. Nevins, who had previously worked for Rep. Roy Blunt (R-Mo.) when Blunt ranked third in the GOP leadership, was listed among the top “Politicos to Watch” by Politico last July. “It’s refreshing stepping out of the hyperpartisan world,” he had commented . “It’s whatever is in the best interest of the client or company.”

Matthew Hodges, a former legislative assistant to Cantor, now works for the lobbying firm Trammell & Co. and represents both Blue Cross/Blue Shield and Verizon Communications, another big Cantor donor. The telecommunications company is represented by another Cantor alumnus, Matt Mandel, a Glover Park Group lobbyist who, like others, has dutifully advertised his ties with the House Leader on his company profile.

Shimon Stein, a Blankrome LLP lobbyist who was once Cantor’s senior policy adviser, has represented Comcast Corp. since 2011 and has given a total $3,700 to Cantor and $3,000 to ERIC PAC since the 2012 campaign cycle. In 2010, Comcast topped all other Cantor donors by giving $34,000, out of the total $106,000 it has doled out to his campaign overall.

Members of Cantor’s flock who have become K Street success stories abound: Valerie Nelson worked for Cantor for nine years and now represents several powerhouse groups on behalf of Dentons US; Mike Ference was a senior staff member and now works at Shockey Scofield Solutions, representing Koch Industries and Boeing Co., among others.

K Street or Wall Street

Cantor could also bank on the high marks he has earned from the financial sector — which has already been expressed through millions of dollars in political contributions. The securities and investment industry is by far Cantor’s primary source of campaign funding, and it has also spent big on his leadership PAC.

“He has been a friendly face of the GOP to the financial services and banking industry in Congress,” said Chris Jones, the founder of CapitolWorks. “They know that he is a sane voice in the wilderness in Congress when it comes to banking and money and financial issues.”

In fact, banking and finance are part of Cantor’s home turf. His wife Diana is an accountant who works for an investment firm and previously served as a vice president of Goldman Sachs, which has given $143,000 to Cantor through its employees and PAC, making it his campaign’s fourth largest donor. Goldman Sachs is also a regular donor to his leadership PAC, with close to $100,000 spent in the 2014 cycle alone.

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These financial ties might reflect the deeper affinities of the House Leader, as well. He is regarded as an ally of the “country club, Chamber of Commerce, pro-business Republican,” said Jones. “Philosophically,” Adler added, “I think he identifies with those interests well.”

Cantor has strong ties with lobbyists working for finance groups — a common career trajectory for his past aides. Former chief-of-staff John Emling is now a lobbyist for Citigroup Management Corp. Citigroup gave a handsome $57,000 to ERIC PAC just this cycle. Lawrence Seyfried, a former policy adviser, now leads the American Bankers Association‘s lobbying efforts with the Senate Republican caucus.

“He’s extremely valuable to K Street and Wall Street,” said Jones.

Politics Still an Option

Cantor, who has proved himself a formidable fundraiser for the Republican Party and earned favors with some hundreds of Republicans backed by his leadership PAC, could also decide to make his political mark through outside groups. That’s the tack of former Sen. Jim DeMint (R-S.C.), who left Capitol Hill to create the influential pro-tea party group Senate Conservatives Fund.

He is well-connected in several prestigious conservative clubs. His former chief-of-staff Robert Collins left Congress to become president of American Action Network, and then moved on to join the Crossroads GPS Board of Directors. He is now the executive director of the National Republican Senatorial Committee.

Similarly, Rory Cooper served as Cantor’s communications director after circulating through the National Republican Congressional Committee, the Bush Administration and the conservative think-tank Heritage Foundation.

Cashing in On a Congressional Career

If he were to land on K Street, Cantor would be following a well-trod path.

“There’s certainly is a history of senior-level folks leaving and going to K Street,” said Adler. “And doing well.”

Before him, former Rep. Richard A. Gephardt (D-Mo.), the veteran House Majority and Minority Leader, founded the successful Gephardt Group soon after leaving office in 2005. Within a few years, his firm began raking in millions of dollars in revenue, with Gephardt himself representing big corporations such as General Electric, Google Inc., and Boeing Co.

And there’s also a wealth of former lawmakers who turned a political defeat into a lucrative career move.

Former Sen. Tom Daschle (D-S.D.),who had been Democratic Minority and Majority Leader in the Senate, was also defeated in what The New York Times termed a “historic political upset,” losing his South Dakota seat to Republican John Thune. The following year, he had settled in the lobbying firm Alston & Bird. In 2009, when it emerged that he had failed to file his tax returns correctly and he was unable to serve as Obama’s Secretary of Health and Human Services, he swiftly moved on to work for DLA Piper, where he currently works as a “senior policy advisor.” Daschle, who has provided informal advice to the White House, is not a registered lobbyist.

Former Rep. Tom Delay, a House Republican Majority Leader from Texas, resigned in 2006 after being indicted for his role in a scheme to funnel corporate cash into state elections. During his time in office, he had founded the K Street Project, an effort to increase the influence of Republicans working in top lobbying firms. Until recently, he was a registered lobbyist representing Argus Group on behalf of his political consulting firm, First Principles LLC.

At this stage, Cantor might simply decide to juggle some of these many alluring opportunities. “He would do a little bit of a smörgåsbord type of thing,” said Jones. “He’s got a lot of good options.”

Follow Lalita on Twitter at @lalitaclozel



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