Donald Trump names new finance chairman

Story highlights

  • According to the campaign, Mnuchin and Trump have worked together in "a business capacity" in the past
  • Since becoming the presumptive nominee, Trump has signaled he will raise money for a general election bid

Washington (CNN)Presumptive GOP nominee Donald Trump announced Thursday a national finance chairman for his campaign -- a move aimed at creating a fundraising operation the candidate has long eschewed as he pivots to the general election.

Trump tapped Steven Mnuchin to lead the effort, he said in a statement. Mnuchin is a long-time investment executive who chairs Dune Entertainment Partners, was founder and CEO of OneWest Bank Group and spent 17 years at Goldman Sachs.
    According to the campaign, Mnuchin and Trump have worked together in "a business capacity" in the past.
    Trump has spent much of the campaign trail decrying money in politics and saying he is self-funding his campaign to not be beholden to special interests.
    But since becoming the presumptive nominee after Tuesday's decisive Indiana primary, Trump has signaled he will raise money for a general election bid with the Republican Party.
    In his statement Thursday, Trump's campaign noted he had self-funded the primary and said he would "likewise be putting up substantial money toward the general election."
    But the campaign said Mnuchin would be fundraising for Trump and noted he would work with the party in building the operation.
    Mnuchin has little track record in political fundraising, though a search of campaign disclosures reveals he has given substantially to both Republicans and Democrats, including both President Barack Obama and former GOP nominee Mitt Romney at points in their careers.
    Mnuchin also gave money to Democratic front-runner Hillary Clinton multiple times when she represented New York in the Senate.
    Mnuchin has mainly engaged in entertainment outside of Wall Street, producing a number of Hollywood blockbusters.
    He also served on the board of a media company, Relativity, that went bankrupt last year, though Variety reported he left the company quietly before Relativity filed for bankruptcy.
    Trump has said hedge fund managers get away with "murder" under the current tax code and was critical of a loan former rival Texas Sen. Ted Cruz received from Goldman Sachs, where Cruz's wife works, without disclosing it properly.