Trump Looks to Another Finance Veteran for Senior Role

by admin February 2, 2017 at 11:58 pm
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Stephen A. Feinberg has supported Republican candidates and served on President Trump’s economic advisory council.

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Haraz N. Ghanbari/Associated Press

The founder of Cerberus Capital Management, an investment firm that owns companies like the gun maker Remington Outdoor and the supermarket chain Albertsons, is in discussions to join the Trump administration, the firm disclosed on Thursday.

Stephen A. Feinberg, the founder, has held discussions with President Trump’s transition team about “a senior role,” according to a letter to Cerberus investors on Thursday that was reviewed by DealBook. The firm said that were he to take such a position, he would have to publicly disclose significant amounts of information about his finances.

That could bring uncomfortable scrutiny upon Cerberus again. The $30 billion firm has been criticized for owning Remington, which made the rifle used in the deadly school shooting in Newtown, Conn., in 2012. After the shooting, Cerberus sought unsuccessfully to sell its interest in the gun maker, then offered its investors a way to cash out their stakes in the business.

Cerberus said it had a succession plan in place if Mr. Feinberg were to leave, though it declined to elaborate.

Mr. Feinberg, 56, has been a notable backer of Republican candidates and had served on Mr. Trump’s economic advisory council.

He is among several financial moguls to enter the Trump administration’s orbit. The investor Wilbur L. Ross is Mr. Trump’s nominee for commerce secretary, while the hedge fund manager Steven T. Mnuchin is the administration’s nominee for Treasury secretary. Stephen A. Schwarzman, a co-founder and the chief executive of the Blackstone Group, leads a forum of business leaders who will meet with Mr. Trump on economic matters.

News of Mr. Feinberg’s discussions with the Trump administration was reported earlier by The Wall Street Journal.

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