Donald Trump on Thursday announced the appointment of Dune Capital Management CEO Steven Mnuchin as his campaign’s new finance chairman.
Mnuchin previously served as chairman of OneWest Bank and spent nearly two decades at the Wall Street giant Goldman Sachs, before leaving to start his own financial management firm in the late 1990s.
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“Steven is a professional at the highest level with an extensive and very successful financial background ,” Trump said in a statement released by his campaign . “He brings unprecedented experience and expertise to a fundraising operation that will benefit the Republican Party and ultimately defeat Hillary Clinton.”
The two businessmen previously worked together on Trump’s private business dealings, according to the Trump campaign.
Mnuchin’s hiring comes 48 hours after the Republican National Committee named Trump the presumptive GOP nominee, allowing him to assist with convention planning and fundraising for the general election.
“Mr. Trump has self-funded his successful primary battle and will likewise be putting up substantial money toward the general election ,” said the Trump campaign.
But the billionaire will have to raise far more than the estimated $20 million he’s spent on his primary campaign. For comparison, former Republican presidential nominee Mitt Romney began raising an average of $100 million per month shortly after he was named the presumptive nominee in late April 2012.
“I’ll be putting up money, but won’t be completely self-funding,” Trump told the Wall Street Journal earlier this week.
“It’s a great privilege to be working with Mr. Trump to create a world class finance organization to support the campaign in the General Election ,” Mnuchin said Thursday.
