Trump names Wall Street, corporate leaders to advisory council

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WASHINGTON: President-elect Donald Trump, who already has filled the core of his cabinet with multimillionaires, on Friday announced a new advisory council stacked with Wall Street and corporate leaders.

The Who’s Who of corporate power hitters includes the head of the largest asset manager in the world, leaders of Walt Disney, Wal-Mart and IBM, and a former central banker.

They will form Trump’s Strategic and Policy Forum, to help the incoming president implement “his plan to bring back jobs and Make America Great Again.”

“This forum brings together CEOs and business leaders who know what it takes to create jobs and drive economic growth,” Trump said in a statement.


“My administration is committed to drawing on private sector expertise and cutting the government red tape that is holding back our businesses from hiring, innovating, and expanding right here in America.”

The council, which will meet for the first time at the White House in early February, will be chaired by Stephen Schwarzman, CEO and co-founder of Blackstone, which has $361 billion in assets under management.

It is fairly common for US presidents to create advisory committees to gather opinions from the private sector. In fact, two corporate leaders named to Trump’s new body serve on President Barack Obama’s Export Council: Disney CEO Robert Iger and IBM chief Virginia M. Rometty.

Trump also tapped JPMorgan Chase boss Jamie Dimon, who some had mentioned as a possible pick for Treasury secretary; BlackRock CEO Larry Fink, General Motors chief Mary Barra, Wal-Mart CEO Doug McMillon and former Federal Reserve governor Kevin Warsh.

AFP

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