The former banker and hedge fund manager will be responsible
for the executive branch agency whose mission includes
maintaining a strong economy, promoting conditions that enable
job growth and stability, protecting the integrity of the
financial system, strengthening national security, and managing
the US government’s finances effectively.
Mnuchin succeeds Jacob Lew, who served in the position under
Trump selected Mnuchin in November 2016 to serve as
Secretary of the Treasury after he helped the President during
his election campaign. Before his confirmation, Mnuchin was the
finance chairman for Trump’s campaign to become
president and spent the past year traveling with Trump and met
with hundreds of business leaders. He also served as a senior
economic adviser to the now President in crafting his economic
positions and economic speeches.
Mnuchin’s first main task as the Secretary of
the Treasury will be to push forward the Republican
party’s plans for tax reform, which includes
corporate tax cuts, a border adjustment tax, a preferential
rate for repatriating assets held offshore for corporates and
stopping corporate inversions.
Earlier in his career, he served as Founder, Chairman, and
Chief Executive Officer of Dune Capital Management. He also
founded OneWest Bank Group LLC and served as its Chairman and
Chief Executive Officer until its sale to CIT Group Inc.
Mnuchin previously worked at The Goldman Sachs Group, Inc.
where he was a Partner and served as Chief Information