Ned Segal’s résumé includes five years as chief financial officer of Twitter — he got the ax in 2022, when Elon Musk bought the bird site and renamed it X — and nearly 17 years at Goldman Sachs, where he held the titles of managing director and head of global software investment banking.
It also includes selling hot dogs as a teenage vendor at Candlestick Park. Now he’s about to see how the sausage really gets made in San Francisco.
On Tuesday, Mayor-elect Daniel Lurie announced that he’s hiring Segal, 50, as the first-ever chief of housing and economic development. The new role, part of Lurie’s plan to reshape the way business is done at City Hall, will report directly to the mayor while working with departments that include Building Inspection, Planning, Economic and Workforce Development, and Housing and Community Development, as well as the Arts Commission, libraries, and San Francisco International Airport.
Considering the size and complexity of these departments, which collectively spend about $3 billion, it’s a daunting task for a person with no government experience. However, Segal said he feels more than ready.
“I feel like I’ve spent my whole life preparing for a role like this, whether it’s taking the bus downtown as a kid, selling hot dogs at Candlestick Park, or working downtown for much of my career,” he said. “I feel like I have empathy for the companies and families that are trying to thrive here. I couldn’t be more excited to bring this to bear for the people and businesses in San Francisco.”
The city is facing a massive budget deficit and an unprecedented housing crisis, as it needs to build 82,000 homes by 2031. Many downtown offices remain empty, and some companies have fled entirely.
Segal said the local economy and housing are “inextricably linked,” which is why the two issues will fall under his portfolio.
“We aren’t going to shrink our way to prosperity,” he said, “although there are serious budget decisions that the mayor-elect will need to make. Until more people come to visit us, until more people work here, until more families live here, it will be hard for the city to realize its full potential.”
Lurie and Segal have known each other since they were kids at Town School for Boys, a private school in the city. Segal served on the board of Lurie’s anti-poverty nonprofit Tipping Point Community. Asked if their relationship would change after Lurie becomes his boss, Segal sounded unconcerned.
“I’ve known Daniel for a long time, and he is the right leader for this moment in San Francisco,” Segal said. “I’ve always admired what a good listener he is, how much he cares about people, and how he puts together incredible teams to meet the challenges he’s facing. And I couldn’t be more excited to be a part of his team.”
Segal and his former Twitter colleagues made headlines this year when they sued Musk, claiming he had improperly withheld millions of dollars in severance payments. Segal declined to talk about his time at Twitter in detail, instead diligently sticking to his talking points.
Lurie will be sworn in as mayor Jan. 8. Other key staff hires include Staci Slaughter, a former San Francisco Giants executive who will serve as chief of staff; Matthew Goudeau, who will serve as deputy chief of staff after effectively filling the role of political director for Lurie’s campaign; and Han Zou, a longtime community organizer who worked on Lurie’s campaign and will serve as director of public affairs.