(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.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.