Trump to Nominate Goldman Sachs' Donovan as Deputy Treasury Secretary

Politics Reuters

A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. Goldman Sachs Group Inc said on Tuesday quarterly profit doubled, beating Wall Street estimates, boosted by returns from investing the bank's own money. ... REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) (Reuters)

U.S. President Donald Trump will nominate Goldman Sachs <GS.N> banker James Donovan as deputy Treasurysecretary, the White House said on Tuesday, adding another alumnus of the Wall Street investment bank to his administration.

Continue Reading Below

Treasury Secretary Steven Mnuchin and National Economic Council director Gary Cohn are also former Goldman executives who occupy senior economic posts within the administration.

Donovan's work at the bank as a managing director has included work on corporate strategy, investment banking and investment management, the White House said in a statement.

He is expected to work on the Trump administration's domestic policy agenda at Treasury.

The White House also named David Malpass, a former official in the Ronald Reagan and George H.W. Bush administrations, as its nominee for Treasuryundersecretary for international affairs, a key economic diplomacy post.

Malpass also served as a former economist at Wall Street bank Bear Stearns prior to its 2008 collapse and most recently served as an economic adviser to Trump's campaign.

Continue Reading Below

The White House also named former national security and federal law enforcement official Sigal Mandelker to the Treasury's top sanctions post as undersecretary for terrorism and financial intelligence.

A former law clerk for Supreme Court Justice Clarence Thomas, Mandelker later held a series of criminal prosecution positions at the Department of Justice and advised the Secretary of Homeland Security during the George W. Bush administration.

 

(Reporting by Eric Beech; Editing by Sandra Maler and Michael Perry)

What do you think?

Click the button below to comment on this article.