Trump to appoint former Goldman banker as Treasury secretary

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Wall Street veteran Steven Mnuchin, who spent 17 years at the US investment bank, has reportedly been selected for the key post in the Republican’s administration and his appointment could be confirmed as early as Wednesday, the Telegraph reports.

The banker, who went on to manage a hedge fund after leaving Goldman, is a close ally of Mr Trump who acted as his finance chairman on his victorious campaign to win the US election.

Mr Mnuchin, 53, is a financier who has kept a relatively low-profile throughout his career and little is known about his policy stances, although he will now play an important role in delivering the campaign promises that propelled Mr Trump into the White House.

It came as Wilbur Ross, the billionaire investor who had been considered a front-runner to become Mr Trump’s commerce secretary, also looked set to be confirmed to the role.

Mr Mnuchin is the third alumnus of Goldman to run the treasury since the 1990s, following in the footsteps of Henry “Hank” Paulson and Robert Rubin.