"We need to undo many regulations which have stifled investment in American businesses, and restore oversight of the financial industry in a way that does not harm American workers," Trump said in a statement.
Clayton is currently a partner at the powerful law firm Sullivan & Cromwell and has advised on a slew of major deals, including the Alibaba (BABA, Tech30) IPO and the sale of the NBA`s Atlanta Hawks.
His law firm bio also notes that Clayton helped secure toxic mortgage settlements with the government on behalf of large financial institutions.
Clayton beat out Debra Wong Yang for the SEC job. Yang, another star corporate lawyer, had been a leading contender to lead the agency.
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