President-elect Donald Trump will name longtime banker and former Goldman Sachs executive Steven Mnuchin as Treasury secretary, turning to a campaign loyalist and fundraiser for the incoming administration's top economic cabinet post, a transition official said Tuesday.

Mr. Mnuchin built his career sniffing out undervalued assets and converting them into massive profits. But perhaps his greatest trade just came in the political arena. Mr. Mnuchin, 53, parlayed a six-month stint as Donald Trump's campaign finance chair into the president-elect's pick for Treasury secretary.

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