Scott Bessent, the founder of the Connecticut-based hedge fund Key Square Group, had been making a full-court press for the post.

President-elect Donald Trump has picked Scott Bessent, a hedge fund manager and major Trump fundraiser, to be his next Treasury secretary, people familiar with the decision said. Bessent, who has been among Trump’s biggest allies on Wall Street,

President-elect Donald Trump chose Scott Bessent to lead the Treasury Department late Friday evening. “I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States,