I hope to be able to serve this administration in the future<br />and fully support President Trump and Secretary Steven Mnuchin’s ongoing work to reform the tax system and grow the U. S. economy.”<br />The withdrawal of Mr. Donovan, a longtime banking and investment management executive at Goldman, deals a blow to the Treasury<br />Department just as it is embarking on the mammoth task of overhauling the tax code for the first time in 30 years.<br />2 Treasury Job -<br />By KATE KELLY and ALAN RAPPEPORTMAY 19, 2017<br />James Donovan, the Goldman Sachs executive who was poised to become deputy Treasury secretary, is backing out of consideration.<br />It also means that Goldman Sachs — derided by some as “Government Sachs” — will have less of a presence in Washington, even as high-ranking officials like Gary Cohn, director of the National Economic Council,<br />and Dina Powell, a deputy national security adviser for strategy, remain.<br />Tony Sayegh Jr., the Treasury’s assistant secretary of public affairs, said Mr. Donovan “has been<br />an enormous asset to the department helping recruit and fill many of the senior jobs at Treasury<br />While the Treasury has vast ranks of career staff and a handful of senior advisers, including at least two Wall Street veterans,<br />with the title “counselor,” Mr. Mnuchin is the only political appointee in place who is subject to Senate confirmation.<br />Mr. Donovan, 50, recently told administration officials<br />that he could not take the job because of unexpected family matters that required more of his attention.
