
President-elect Donald Trump is seriously considering Marc Rowan, the CEO of private equity giant Apollo Global Management, as his new Treasury Secretary, according to a New York Times report. Based on sources the Times says are “close” to Trump, Rowan has become a likely frontrunner as Trump grows frustrated with other candidates. At a time when regulators have pushed to rein in risky behavior by the private equity industry, the appointment of one of their own would almost certainly be a huge boon to the industry.
Main Idea: Donald Trump is considering Apollo CEO Marc Rowan for Treasury Secretary, a move that could favor the private equity industry.
Key Points:
A Treasury Secretary tied to Apollo could weaken oversight of private equity and banks, which may raise risks for workers, retirees, and households if fees or risky deals grow.
Supporters say lighter rules could make credit and investment easier for some small businesses and markets.
Rate how each entity in this article affected the American people.
Apollo Global Management CEO and the article’s central figure as a likely Treasury Secretary pick.
President-elect whose decision about Treasury Secretary drives the story.
Private equity firm at the center of the article’s discussion of regulatory and market implications.
Major private equity firm cited as one of the industry giants likely to benefit.
Former SEC chair and Apollo board member whose appointment is part of the broader political context.
Major private equity firm cited among the industry giants shaping the market.
Treasury bureau specifically discussed for its regulatory role over banks’ private equity exposure.
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Sign in to commentThe agency Rowan could lead, with direct implications for financial regulation.
Treasury bureau named as part of the portfolio Rowan would oversee.
Named contender for Treasury Secretary in the article’s succession discussion.
Treasury bureau named as part of the portfolio Rowan would oversee.
Trump’s previous Treasury Secretary, used as a relevant comparison for the role.