Donald Trump has officially tapped his picks to run the Departments of the Treasury and of Commerce, according to the presidential transition. Trump will nominate Steven Mnuchin, the former Chief Information Officer at Wall Street firm Goldman Sachs, for Treasury secretary, while Wilbur Ross, a 79-year-old businessman and investor, is the president-elect’s selection for Commerce secretary.
Mnuchin, who spent 17 years at Goldman Sachs, would be the third Treasury secretary to have worked at the global investment bank. Henry Paulsen, who served under George W. Bush, was Goldman’s CEO, and Robert Rubin, who served under Bill Clinton, was a partner and executive there as well.
“Steve Mnuchin is a world-class financier, banker and businessman, and has played a key role in developing our plan to build a dynamic, booming economy that will create millions of jobs,” said Trump in a statement released Wednesday. “His expertise and pro-growth ideas make him the ideal candidate to serve as Secretary of the Treasury. He purchased IndyMac Bank for $1.6 billion and ran it very professionally, selling it for $3.4 billion plus a return of capital. That’s the kind of people I want in my administration representing our country.”
Ross, in addition to his other business ventures, spent more than two decades at Rothschild Inc, where he helped the future president-elect restructure his debt and retain Trump’s ownership of some of his Atlantic City properties.
“Wilbur Ross is a champion of American manufacturing and knows how to help companies succeed. Most importantly, he is one of the greatest negotiators I have ever met, and that comes from me, the author of The Art of the Deal. Together, we will take on the special interests and stand up for American jobs,” said Trump.
The Trump transition also announced Wednesday Todd Ricketts will serve as deputy Commerce secretary. Ricketts is one of the owners of the Chicago Cubs, the son of billionaire TD Ameritrade founder Joe Rickets, and brother of Nebraska governor Pete Ricketts.
