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Stories of Interest
- White House Now Doesn’t Dispute Details of Trump's Call with Army Widow
- Goldman Sachs’ Lloyd Blankfein Just Threw Some Serious Brexit Shade
- Guggenheim Partners ‘Bank Wrecker’ Could Get $100Mn Exit Package
- Proposed Arbitration Rule Change: For Customers Dealing with an Inactive Firm or Associated Person
- This Family Bet It All on Bitcoin
- Clearinghouses Pass CFTC Liquidity Stress Tests
- President Trump Admits He’s Trying to Kill Obamacare. That’s Illegal.
- Trump Plunges Down List of ‘America’s Richest’
- Is Trump’s “Foreclosure King” in Over His Head?
- FBI Arrests NCAA Basketball Coaches and Adidas Rep in Bribery Probe Involving Recruitment
- Equifax CEO Steps Down Amid Hacking Scandal
- Litigation Costs to Rub Salt in RBS Investor Wounds
- RIAs Poised to Land Wirehouse Recruits - Dan Jamieson
- Citibank and U.K. Affiliate to Pay $550K Penalty for Swap Data Reporting Violations - CFTC
- AIG to Restructure into 3 New Units, Marking CEO's First Big Move
- Accounting Firm Deloitte Says It Suffered Cyberattack (subsc reqd)
- Upcoming FINRA Board Meeting and FINRA360 Update
- Elizabeth Warren Lifts Hold on Trump DOJ Antitrust Nominee
- Bigger Mergers Narrow Indy Reps' Options, Alter IBD Channel - Dan Jamieson
- Dentons to Merge with U.K.'s Murray & Spens
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NEWSLETTERS & ALERTS
Donald Trump & Co.
Goldman Partner Drops Out As Trump's Nominee for Deputy Treasury Secretary
[Photo: James Donovan, Goldman Sachs / NYTimes]
by Howard Haykin
It’s common knowledge that the Trump administration has yet to fill thousands of high level positions in the State Department, the Treasury, and other critical federal agencies. And by all measures, that task will become increasingly difficult as leading candidates for those positions decline the opportunity to serve “at the pleasure of the President.”
On Friday, Goldman Sachs executive Jim Donovan became the latest to drop out of the running as Donald Trump's nominee to serve as Deputy Treasury Secretary - #2 to Steven Mnuchin. Mr. Donovan, who was nominated in March, declined the nomination due to “family concerns.” He had been expected to play a critical role in helping to shape tax reform policy. [See Financialish, 3/15/17]
JIM DONOVAN … joined Goldman Sachs in 1993 straight out of Harvard Law, and has remained there for the past 24 years. Prior to receiving his law degree, Donovan received a BS in engineering and an MBA from MIT. He is currently a managing director with Goldman’s private wealth management division. Mr. Donovan is an Adjunct Professor at University of Virginia, and is politically active – having supported Mitt Romney and later Jeb Bush in their respective runs for the White House.