Goldman Sachs President Gary Cohn Is Leading Candidate for Top White House Economic Post
December 09 2016 - 12:51PM
Dow Jones News
By Nick Timiraos, Peter Nicholas and Liz Hoffman
Goldman Sachs Group Inc. President Gary Cohn is the leading
candidate to serve as director of the White House National Economic
Council, two Trump transition advisers said Friday, putting alums
of the prominent Wall Street investment bank into the top two
economic jobs of the new administration.
The move, which wouldn't require Senate confirmation, would
further solidify a marked tilt toward wealthy bankers and business
people -- as well as former top military brass -- among the top
ranks of President-elect Donald Trump's advisers and cabinet
members.
The Trump administration's economic and financial team began to
take shape with last week's announcement that former Goldman
executive Steven Mnuchin was the president-elect's choice to become
Treasury secretary. Now Messrs. Trump and Mnuchin, along with
transition officials, are looking to round out the economic and
regulatory team.
The NEC job could serve as a steppingstone to other top
government posts, including at the Treasury or Federal Reserve, a
leap that has some precedent in past administrations.
Nominating a Goldman executive -- Mr. Cohn also serves as chief
operating officer -- could open Mr. Trump to criticism, especially
after his campaign had prominently attacked big multinational
banks. A campaign video in the final weeks before the election
attacked global elites and flashed an image of Goldman Sachs Chief
Executive Lloyd Blankfein. Mr. Trump already has tapped two other
Goldman alumni, including Mr. Mnuchin and top White House adviser
Steve Bannon.
Mr. Cohn joined Goldman in 1990 as a silver salesman and became
a partner in 1994, the same year as Mr. Mnuchin.
--Ryan Tracy contributed to this article.
Write to Nick Timiraos at nick.timiraos@wsj.com, Peter Nicholas
at peter.nicholas@wsj.com and Liz Hoffman at
liz.hoffman@wsj.com
(END) Dow Jones Newswires
December 09, 2016 12:36 ET (17:36 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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