Hedge fund executive gets job in Export-Import Bank

Hedge fund industry executive Anthony Scaramucci, an advisor to US President Donald Trump, has been named chief strategy officer of the US Export-Import Bank, a spokesman for the bank confirmed on Tuesday.

Scaramucci, a Republican fundraiser, has been working at the Washington-based bank since the middle of June and remains the Trump administration’s choice for ambassador to the Organization for Economic Cooperation and Development, a source familiar with the matter said.

Scaramucci will focus on developing strategies to support US jobs by financing exports, said Lawton King, a spokesman for the ExportImport Bank, which provides loans to foreign entities that enable them to purchase US-made goods.

The news of Scaramucci’s appointment was first reported by Politico. Scaramucci agreed in January to sell his investment firm SkyBridge Capital LLC to HNA Capital (US) Holding, along with RON Transatlantic EG, as he prepared to take a public liaison job with Trump. The deal is expected to close in July.

While the initial job offer was rescinded, Scaramucci remains loyal to Trump. He told Reuters last month that he would know within a few weeks whether or not he would be working in the administration. By early June, the Trump administration had picked him to become OECD ambassador. (RTRS)