Trump's Pick for Wall Street Prosecutor Will Keep Apollo Stock
(Bloomberg) — President Donald Trump’s pick to police Wall Street’s financial crimes plans to hang onto holdings in Apollo Global Management, American Express and a digital asset platform, according to documents released Friday by the Office of Government Ethics.
Jay Clayton, the Sullivan & Cromwell lawyer Trump selected to serve as US Attorney for the Southern District of New York, disclosed his assets, clients and financial stakes in the documents. Clayton, 58, joined Apollo’s board in 2021 following co-founder Leon Black’s decision to step down as CEO as he faced scrutiny over his ties to convicted sex offender Jeffrey Epstein.
But rather than sell off his stake in the private equity giant and a handful of other companies he had close business relationships with, Clayton has opted to recuse himself should matters involving them cross his desk as the top prosecutor in a district that oversees Wall Street.
Clayton, who was Trump’s chair of the Securities and Exchange Commission during the president’s first term, will resign his position at Apollo, his law firm and other companies when he’s confirmed by the Senate, according to his ethics agreement that spells out the steps he’ll take to remove conflicts of interest.
He’ll also step down from American Express’ board of directors, and as an adviser to digital asset platform Fireblocks, Inc. He’s already resigned from some positions, including a senior adviser role at Coinbase Asset Management, an investment firm owned by the cryptocurrency exchange with the shared name.
But he’s not selling off his holdings in some of those companies, his ethics agreement says. Clayton will also continue to have equity stakes in Fireblocks and accounting and advisory firm CFGI LLC.
https://finance.yahoo.com/news/trump-pick-wall-street-prosecutor-204143565.html
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Remembering Dick Cheney -So? No one in this administration complies with any rules, ethics or legal.
