[Photo:  James Donovan, Goldman Sachs / NYTimes]

by Howard Haykin

It’s common knowledge that the Trump administration has yet to fill thousands of high level positions in the State Department, the Treasury, and other critical federal agencies. And by all measures, that task will become increasingly difficult as leading candidates for those positions decline the opportunity to serve “at the pleasure of the President.”

On Friday, Goldman Sachs executive Jim Donovan became the latest to drop out of the running as Donald Trump's nominee to serve as Deputy Treasury Secretary - #2 to Steven Mnuchin. Mr. Donovan, who was nominated in March, declined the nomination due to “family concerns.” He had been expected to play a critical role in helping to shape tax reform policy. [See Financialish, 3/15/17]

JIM DONOVAN … joined Goldman Sachs in 1993 straight out of Harvard Law, and has remained there for the past 24 years. Prior to receiving his law degree, Donovan received a BS in engineering and an MBA from MIT. He is currently a managing director with Goldman’s private wealth management division. Mr. Donovan is an Adjunct Professor at University of Virginia, and is politically active – having supported Mitt Romney and later Jeb Bush in their respective runs for the White House.