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Trump names Goldman Sachs executive counselor on economic initiatives

NEW YORK — President-elect Donald Trump on Thursday named Dina Powell, a Goldman Sachs executive who previously served in the George W. Bush administration, to a senior White House role, making Powell the latest alum of the prestigious bank to join Trump’s team.

Powell has been advising Trump’s daughter, Ivanka, but in her new position she will be an assistant to Trump and senior counselor for economic initiatives. She will focus on ‘‘entrepreneurship, small business growth and the global economic empowerment of women,’’ according to a statement from Trump’s office.

‘‘I am proud to have her serve as a senior counselor in my administration, where I know she will produce great results working with the highly respected team of experts we have assembled,’’ Trump said.


Powell is president of the Goldman Sachs Foundation where she oversees some of the bank’s largest philanthropic initiatives, including the ‘‘10,000 Women’’ program, which helps female entrepreneurs around the world.

Before joining Goldman Sachs in 2007, Powell, who was born in Egypt, was one of the highest-ranking Arab Americans in the George W. Bush administration. She served as assistant secretary of state for educational and cultural affairs and deputy to then-Undersecretary of State Karen Hughes. She was also the youngest person ever to direct the White House’s personnel office.

‘‘The Trump administration has a unique opportunity to unleash the untapped potential of small business owners and female entrepreneurs and by working together with the public and private sectors we can ensure they continue to be a critical part of growing the economy and creating jobs,’’ Powell said.

Powell continues Trump’s apparent fondness for executives or alums of Goldman Sachs. During the campaign, Trump often criticized his opponents for being too cozy with the institution and even released a television ad that flashed an image of Lloyd Blankfein, the bank’s chief executive, and warned of a ‘‘global power structure’’ that was robbing American workers.


But over the last few months, several of Trump’s top economic jobs have gone to Goldman alums. Trump picked Gary Cohn, the bank’s president and chief operating officer, to lead the powerful National Economic Council. Steven Mnuchin, a 17-year veteran of the bank, is slated to become the next treasury secretary, and Stephen Bannon, Trump’s chief strategist, worked on mergers and acquisition deals for Goldman Sachs.