President-elect Trump on Friday nominated hedge fund manager Scott Bessent as Treasury secretary. Bessent is the founder of investment firm Key Square Group and a former partner at Soros Fund Management. If confirmed by the Senate, he will succeed current Treasury Secretary Janet Yellen.
In a statement, ABA President and CEO Rob Nichols congratulated Bessent on his nomination.
“His years of real-world experience in financial markets will serve him well in leading a department critical to the global economy and the nation’s banks,” Nichols said. “We look forward to hearing more about his views during the confirmation process, and, if confirmed, we look forward to working with him to grow the economy, expand opportunity for all Americans, and put in place a commonsense regulatory framework that allows banks to best serve their customers, clients and communities.”
