(Bloomberg) — Donald Trump ridiculed Wall Street on the campaign trail, and frequently criticized his political opponents for their ties to Goldman Sachs Group Inc.
Now, Trump is relying on a lawyer who has spent his career representing financial firms, and has his own close ties to Goldman, to lead Wall Street's top regulator.
Trump will pick Sullivan & Cromwell partner Jay Clayton to run the Securities and Exchange Commission, the president-elect's transition team said in a statement Wednesday, positioning a top lawyer to banks and hedge funds to lead Wall Street's main regulator. Clayton's clients represent a virtual who's who list of industry titans, including hedge funds, private equity firms and Goldman, where his wife has worked for almost two decades.
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