The next U.S. Treasury Secretary might be a powerful fundster.

Laurence D. Fink BlackRock Chairman, CEO

Donors and allies of former U.S. Vice President Joe Biden are pushing him to pick BlackRock chief Larry Fink as Secretary of the Treasury, should Biden defeat President Donald Trump, CNBC reports. (Trump's current Treasury Secretary is Steve Mnuchin, a Goldman Sachs veteran and former hedge fundster.) Biden is the current front runner for the Democratic nomination to face Trump in November.

Fink is no stranger to political speculation related to Democrats considering him for Treasury Secretary. Fink supported the reelection of U.S. President Obama (a Democrat) in 2012 and the candidacy of Hillary Clinton (also a Democrat), who lost against Trump in 2016. For at least a year or two during Obama's two terms in office (when none other than Biden was Vice President), there was public speculation that Obama would pick Fink to lead Treasury. Fink shot that speculation down in December 2012.

Fink, who is 67, has not yet named a successor at BlackRock, the world's largest asset manager and ETF shop. 

Edited by: Neil Anderson, Managing Editor


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