Trump nominates hedge-fund exec

President Donald Trump nominated G. Hunter McMaster II on April 28 to be assistant Treasury secretary for financial markets. (home.treasury.gov) (bloomberg.com) Treasury Secretary Scott Bessent said McMaster now serves as counselor to the secretary and joined the department in January 2025 as director of policy and planning. (home.treasury.gov) Treasury said McMaster performed the delegable duties of the financial markets job from July 2025 through April 2026. Bloomberg reported that means the nomination formalizes work he had already been doing inside the department. (home.treasury.gov) (bloomberg.com) The assistant secretary for financial markets sits inside Treasury’s domestic finance apparatus, the part of government that deals with federal borrowing, market structure and short-term funding. McMaster’s background is in trading foreign exchange and interest rate markets. (home.treasury.gov) Before joining Treasury, McMaster was head of trading at Key Square Group, the macro hedge fund run by Bessent before Bessent became Treasury secretary. Treasury also said McMaster previously held roles at Morgan Stanley and Goldman Sachs. (home.treasury.gov) (bloomberg.com) The nomination now goes to the Senate, because the assistant secretary post requires confirmation. Treasury announced the move on April 28, and Bloomberg reported it on April 29. (home.treasury.gov) (bloomberg.com) The pick gives Bessent a Senate-confirmed nominee for a job that touches Treasury debt issuance and day-to-day market functioning. It also extends the administration’s pattern of pulling senior economic officials from Wall Street trading and hedge-fund circles. (home.treasury.gov) (bloomberg.com) If confirmed, McMaster would move from acting market hand to the formal Treasury official responsible for financial markets. The change is less a new face than a permanent title for one already inside the room. (home.treasury.gov) (bloomberg.com)