Wall Street in, Silicon Valley out: Here are the group meant to guide Trump administration on economic matters

Here is the full list of President’s Strategic and Policy Forum:

  • Stephen A. Schwarzman (forum chairman), chairman, CEO, and co-founder of Blackstone;
  • Paul Atkins, CEO, Patomak Global Partners, LLC, former commissioner of the Securities and Exchange Commission;
  • Mary Barra, chairwoman and CEO, General Motors;
  • Toby Cosgrove, CEO, Cleveland Clinic;
  • Jamie Dimon, chairman and CEO, JPMorgan Chase & Co;
  • Larry Fink, chairman and CEO, BlackRock;
  • Bob Iger, chairman and CEO, The Walt Disney Company;
  • Rich Lesser, president and CEO, Boston Consulting Group;
  • Doug McMillon, president and CEO, Wal-Mart Stores, Inc.;
  • Jim McNerney, former chairman, president, and CEO, Boeing;
  • Adebayo “Bayo” Ogunlesi, chairman and managing partner, Global Infrastructure Partners;
  • Ginni Rometty, chairwoman, president, and CEO, IBM;
  • Kevin Warsh, Shepard Family distinguished visiting fellow in economics, Hoover Institute, former member of the board of governors of the Federal Reserve System;
  • Mark Weinberger, global chairman and CEO, EY;
  • Jack Welch, former chairman and CEO, General Electric;
  • Daniel Yergin, Pulitzer Prize winner, vice chairman of IHS Markit;

 

In President-elect Donald Trump’s newly named kitchen Cabinet of business advisers, Wall Street is in. Silicon Valley is out.

Trump has named 16 business leaders to serve on what’s being called the President’s Strategic and Policy Forum, described as a group meant to guide his administration on economic matters.

The list is notable for leaning toward New York executives and industries, finance in particular. The list echoes Trump’s picks for a number of major economic positions, including Treasury secretary (former Goldman Sachs partner and hedge fund manager Steven Mnuchin) and commerce secretary (billionaire investor Wilbur Ross).

Given his long experience as a New York real estate investor, Trump’s selections may not come as a surprise.

…………………………..

Aside from Virginia Rometty of IBM, there is hardly any representation of technology companies, and certainly none from Silicon Valley.

Perhaps that’s unsurprising, given Trump’s slim public support in the Bay Area. Among his biggest champions is Peter Thiel, the PayPal co-founder and Facebook board member, who is a member of the Trump transition team. Not many other technology executives have come out as Trump backers publicly, aside from Thiel associates like Joe Lonsdale, co-founder of the data consulting firm Palantir, and Jack Abraham, executive director of the Thiel Fellowship.

Indeed, many Silicon Valley luminaries have opposed Trump since the presidential campaign. Eric Schmidt, executive chairman of Google’s parent company, Alphabet, was an enthusiastic supporter of both Obama and Clinton.

Read more: http://www.afr.com/news/world/north-america/wall-street-in-silicon-valley-out-in-trump-administration-20161203-gt38ud#ixzz4Rv2zWB3e

 

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