Treasury Nominee Mnuchin Was Trump's Top Fundraiser

By MARTIN CRUTSINGER, JULIE BYKOWICZ and JULIE PACE

WASHINGTON (AP) — Steven Mnuchin, President-elect Donald Trump's expected choice to be the nation's 77th treasury secretary, has had a long history as a successful financial executive and a shorter but significant period in a job that ushered him into Trump's inner circle: head of Trump's campaign finance operation.

When Mnuchin, 53, was chosen by Trump as his national finance director in May, he told The Associated Press that the two men had been friends for 15 years. Through his work as finance chairman, Mnuchin grew close to Trump's children and son-in-law, Jared Kushner — a top adviser to Trump — and worked with them on fundraising events.

The campaign raised at least $169 million, in addition to the $66 million Trump spent out of his own pocket. Though that was far short of what Hillary Clinton raised, it represented an impressive haul given that Trump didn't begin fundraising in earnest until the end of May.

A person familiar with Trump's decision said Tuesday that the president-elect will nominate Mnuchin to the Treasury position. The person would only discuss the nomination on condition of anonymity because the person was not authorized to reveal it ahead of the official announcement.

If approved by the Senate, Mnuchin would follow in the tradition of two previous treasury secretaries — Robert Rubin in the Clinton administration and Henry Paulson in George W. Bush's. All had vast Wall Street experience gained from years spent working at powerhouse Goldman Sachs.

Yet unlike Rubin and Paulson and unlike President Barack Obama's two treasury secretaries, Timothy Geithner and Jacob Lew, Mnuchin would bring no government experience to Treasury, something that could prove a hurdle in navigating the tricky politics of Washington.

After graduating from Yale in 1985. Mnuchin worked for Goldman Sachs for 17 years. His father, Robert Mnuchin, had himself worked for Goldman for three decades, becoming a partner in charge of equity trading.

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