WASHINGTON — Luke Pettit, who has worked as a bank policy advisor for Sen. Bill Hagerty, R-Tenn., has been nominated by the Trump administration to be the Treasury Department’s assistant secretary for financial institutions.Â
Petitt, should he be confirmed by the Senate, will oversee bank policy at the Treasury Department, a position held in the Biden administration primarily by
The post could become more high profile in the Trump administration. While the role has little in the way of hard power because the assistant secretary plays no role in examining banks, President Donald Trump has said that hedge fund billionaire Treasury Secretary Scott Bessent will lead his financial deregulatory efforts.Â
Pettit previously served as an economist for the Senate Banking Committee and worked at Bridgewater Associates, as well as the Federal Reserve’s division of monetary affairs.Â
The Trump administration has also nominated Jason De Sena Trennert to be assistant secretary for financial markets. He is the founder and chief investment officer of Strategas Securities, an economic policy research and strategy firm, and has written books about his time on Wall Street.Â
“Luke and Jason will be critical to implementing President Trump’s agenda to drive progress for the American people by revitalizing the economy, lowering prices by cutting burdensome regulation, and strengthening the financial system,” Bessent said in a statement.Â
