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Trump to Nominate Goldman Sachs' Donovan as Deputy Treasury SecretaryTrump to Nominate Goldman Sachs' Donovan as Deputy Treasury Secretary

James Donovan joins Goldman alumni Steve Mnuchin and Gary Cohn in top economic posts in the administration.

March 14, 2017

1 Min Read
U.S. Treasury Department
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WASHINGTON, March 14 (Reuters) - U.S. President Donald Trumpwill nominate Goldman Sachs banker James Donovan asdeputy Treasury secretary, the White House said on Tuesday,adding another alumnus of the Wall Street investment bank to hisadministration.

Treasury Secretary Steven Mnuchin and National EconomicCouncil director Gary Cohn are also former Goldman executiveswho occupy senior economic posts within the administration.

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

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

The White House also named David Malpass, a former officialin the Ronald Reagan and George H.W. Bush administrations, asits nominee for Treasury undersecretary for internationalaffairs, a key economic diplomacy post.

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

The White House also named former national security andfederal law enforcement official Sigal Mandelker to theTreasury's top sanctions post as undersecretary for terrorismand financial intelligence.

A former law clerk for Supreme Court Justice ClarenceThomas, Mandelker later held a series of criminal prosecutionpositions at the Department of Justice and advised the Secretaryof Homeland Security during the George W. Bush administration. (Reporting by Eric Beech; Editing by Sandra Maler and MichaelPerry)