Lifestyle & Entertainment

Trump’s pick to head the SEC represented numerous big banks during the financial crisis

donald trump rally fist

Mark Wallheiser/Getty Images

Donald Trump will nominate Jay Clayton, a Wall Street lawyer, to head the Securities and Exchange Commission according to transition sources.

The lawyer, a partner at Sullivan and Cromwell, has represented a number of Wall Street giants.

According to Clayton’s biography on Sullivan and Cromwell’s website he represented a number of banks during the financial crisis Barclays during its purchase of Lehman Brothers, Bear Stearns in its sale of itself to JPMorgan, and Goldman Sachs during its investment from Warren Buffett and the US TARP program.

More to come…

NOW WATCH: Watch Yellen explain why the Federal Reserve decides to raise rates


Please enable Javascript to watch this video