Trump’s pick for deputy treasury secretary withdraws

Treasury spokesman Tony Sayegh says Donovan withdrew to focus "his attention on his family"

In this April 4, 2017, photo, the Capitol is seen at dawn in Washington. Faced with mounting opposition within the Republican Party, a powerful House chairman says he is making significant changes to a proposed tax on imports. Rep. Kevin Brady says he is working on changes to both the design of the tax and how it would be phased in. The Texas Republican did not offer more specifics, but said he meets regularly with President Donald Trump’s economic team. (AP Photo/J. Scott Applewhite)
FILE - In this April 4, 2017, photo, the Capitol is seen at dawn in Washington. (AP Photo/J. Scott Applewhite)

WASHINGTON (AP) — President Donald Trump’s choice to be deputy treasury secretary, bank executive Jim Donovan, is withdrawing from consideration to be second in command to Treasury Secretary Steve Mnuchin.

Treasury spokesman Tony Sayegh says Donovan withdrew to focus “his attention on his family.”

Sayegh said in a statement Friday: “Jim has been an enormous asset to the department helping recruit and fill many of the senior jobs at Treasury. The Secretary appreciates Jim’s continued support of the president and his administration.”

Donovan is a managing director at Goldman Sachs and an adjunct professor at the University of Virginia School of Law. He would have helped Mnuchin, who also once worked at Goldman Sachs, in the administration’s push to overhaul taxes and crack down on terrorist financing.