I hope to be able to serve this administration in the future and fully support President Trump and Secretary Steven Mnuchin’s ongoing work to reform the tax system and grow the U. S. economy.” The withdrawal of Mr. Donovan, a longtime banking and investment management executive at Goldman, deals a blow to the Treasury Department just as it is embarking on the mammoth task of overhauling the tax code for the first time in 30 years. 2 Treasury Job - By KATE KELLY and ALAN RAPPEPORTMAY 19, 2017 James Donovan, the Goldman Sachs executive who was poised to become deputy Treasury secretary, is backing out of consideration. It also means that Goldman Sachs — derided by some as “Government Sachs” — will have less of a presence in Washington, even as high-ranking officials like Gary Cohn, director of the National Economic Council, and Dina Powell, a deputy national security adviser for strategy, remain. Tony Sayegh Jr., the Treasury’s assistant secretary of public affairs, said Mr. Donovan “has been an enormous asset to the department helping recruit and fill many of the senior jobs at Treasury While the Treasury has vast ranks of career staff and a handful of senior advisers, including at least two Wall Street veterans, with the title “counselor,” Mr. Mnuchin is the only political appointee in place who is subject to Senate confirmation. Mr. Donovan, 50, recently told administration officials that he could not take the job because of unexpected family matters that required more of his attention.
