The Missouri Democrat, who twice failed in his bid to win the Democrats' presidential nomination, said through an aide he would not lobby though he declined to provide further details about the role he would play.
A Gephardt adviser said the former House majority and minority leader is also negotiating with several law firms, including St. Louis-based Bryan Cave, where his former chief of staff, Steve Elmendorf, is heading up a strategy group.
The adviser said that Gephardt has also talked with two other law firms and was planning to serve on the board of St. Louis-based beer brewing behemoth Anheuser-Busch.
Gephardt declined to comment in detail about his talks with Goldman Sachs, instead issuing a short statement: "I have made no final decisions regarding my next career and any conclusions drawn about future plans are premature."
2014: The Year in Music [PHOTOS]