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Steven Mnuchin

1

Steven Terner Mnuchin is an American banker, film producer, and former hedge fund manager who is the 77th and current United States Secretary of the Treasury under the Trump administration.

The Secretary of the Treasury is the head of the U.S. Department of the Treasury which is concerned with financial and monetary matters, and, until 2003, also included several federal law enforcement agencies.

Treasury Secretary Nominee Steve Mnuchin Opening Statement (C-SPAN) by C-SPAN

2

After he graduated from Yale University in 1985, Mnuchin worked for investment bank Goldman Sachs for 17 years, eventually becoming its Chief Information Officer.

The Goldman Sachs Group, Inc. is an American multinational finance company that engages in global investment banking, investment management, securities, and other financial services, primarily with institutional clients.

Yale University is an American private Ivy League research university in New Haven, Connecticut.

WATCH LIVE: Steven Mnuchin confirmation hearing by PBS NewsHour

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After he left Goldman Sachs in 2002, he worked for and founded several hedge funds.

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During the financial crisis of 2007–2008, Mnuchin bought failed residential lender IndyMac.

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.

IndyMac, a contraction of Independent National Mortgage Corporation, was an American bank based in California that failed in 2008 and was seized by the United States Federal Deposit Insurance Corporation.

5

He changed the name to OneWest Bank and rebuilt the bank, then sold it to CIT Group in 2015.

OneWest Bank is a national bank with 70 retail branches in southern California and approximately $12 billion in deposits as of June 2013.

CIT Group Inc. is a financial holding company founded in 1908 headquartered in New York City.

6

Mnuchin joined Trump's presidential campaign in 2016, and was named national finance chairman for the campaign.

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On February 13, 2017, Mnuchin was confirmed to be President Trump's Secretary of the Treasury by a 53–47 vote in the U.S. Senate.

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