Trump expected to tap Goldman Sachs president Gary Cohn for economic post

WASHINGTON – President-elect Donald Trump is expected to name Goldman Sachs president Gary Cohn to an influential White House economic post, two people informed of the decision said Friday.

Cohn, 56, would lead the White House National Economic Council, a posting that would require him to leave his $21 million a year job as president and chief operating officer at Goldman Sachs Group Inc. Trump repeatedly vilified the prestigious Wall Street bank on the campaign trail, yet with the selection of Cohn, he has now chosen three of its alumni to key positions in his upcoming administration.

Steven Mnuchin, the Treasury secretary nominee, and Steve Bannon, Trump’s chief strategist and senior counselor, also worked at Goldman Sachs.

The National Economic Council helps to coordinate domestic and global issues, providing economic policy advice to the president and monitoring how the White House’s agenda is implemented across the government.

If Cohn accepts the nomination, he will also be the third Goldman executive to run the NEC. Robert Rubin was the NEC director under Bill Clinton, and Stephen Friedman had the job during George W. Bush’s administration.