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Trump Picks GOP Fundraiser to Serve as Ambassador to Italy 

Trump's pick was a former partner of Goldman Sachs and ran the Republican National Committee's joint fundraising operations with Trump's campaign

President Donald Trump listens during a meeting with the Fraternal Order of Police in the Roosevelt Room of the White House, Tuesday, March 28, 2017, in Washington, photo: AP/Evan Vucci
5 months ago

WASHINGTON – President Donald Trump will nominate Lew Eisenberg, a major Republican fundraiser, to serve as the next ambassador to Italy.

It’s one of several nominees the White House announced Monday evening.

Eisenberg was a former partner of Goldman Sachs and ran the Republican National Committee’s joint fundraising operations with Trump’s campaign.

The White House also announced Trump intends to nominate former Treasury official Randal Quarles to the Federal Reserve board as vice chair for supervision. That will give him a key role in guiding the administration’s efforts to roll back what Trump has criticized as over-zealous bank regulations put into effect under the Dodd-Frank Act of 2010.

If approved by the Senate, Quarles, 59, will take over the role being handled during the Obama administration by Daniel Tarullo, although he was never formally nominated for the position. While Tarullo was a champion of the Dodd-Frank law, passed by Congress to crack down on risky banking practices blamed for the 2008 financial crisis, Quarles has been more critical, contending they had gone too far and restricted banks’ ability to make loans to spur the economy. Still, he is seen as a more moderate choice for the Fed post than some more ideological candidates that the Trump administration had considered.

Quarles currently heads the Cynosure Group, a Salt Lake City-based investment firm that he co-founded. He was previously a partner in the Carlyle Group, one of the world’s largest private equity firms.

He served in key financial positions at Treasury during the administrations of both Presidents George H.W. Bush and his son George W. Bush.

Trump has also chosen Wisconsin businessman Stephen King to serve as U.S. ambassador to the Czech Republic.

The nominations must be confirmed by the Senate.

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