14:34 GMT +314 October 2019
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    Republican presidential candidate Donald Trump gestures and declares You're fired! at a rally in Manchester, New Hampshire

    Trump's Love-Hate Relationship With Bankers Pays Dividends in London, New York

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    Investment bankers in London and New York drew breath in the run-up to the US presidential elections when Donald Trump swore he would bring down the monsters of money, who he blamed to the world's woes. Now he is president-elect, things are different.

    Ahead of the election, Trump was adamant about what he thought of bankers in general.

    "I know Wall Street. I know the people on Wall Street… I'm not going to let Wall Street get away with murder. Wall Street has caused tremendous problems for us," he said.

    Trump has had run-ins with bankers over decades, during his patchy business career that has seen him amass fortunes in real estate and lose big bucks in failed projects. He does not suffer bankers gladly. 

    US Democratic presidential nominee Hillary Clinton in Tempe, Arizona, on November 2, 2016 and US Republican Presidential nominee Donald Trump in Warren, Michigan on October 31, 2016.
    © AFP 2019 / JEFF KOWALSKY JEWEL SAMAD
    Hillary Clinton and Donald Trump

    He saved his most savage remarks in the election campaign for his Democrat opponent Hillary Clinton, who he lambasted for her cozy relationship with the establishment — political, financial and the media.

    "Hillary Clinton meets in secret with international banks to plot the destruction of US sovereignty in order to enrich these global financial powers, her special interest friends and her donors," Trump said.

    Trump's Sachs Change

    How things have changed. He has named Steve Bannon as his chief strategist and adviser. That would be the same Steve Bannon who worked for investment bankers Goldman Sachs, before setting up Bannon & Co., the boutique investment bank which negotiated the sale of Castle Rock Entertainment to media tycoon Ted Turner.

    ​Another ex-Goldman Sachs banker, Steven Mnuchin — Trump's campaign national finance chairman — is tipped for Treasury secretary, but if he turns it down, all tongues are wagging over JPMorgan Chase CEO Jamie Dimon, who could take the role instead, or act as an outside consultant. 

    Another current Goldman Sachs man could also benefit from the Trump turnaround: a certain ex-European Commissioner José Manuel Barroso.

    His experience of the top echelons of Brussels over ten years, preceded by being prime minister of Portugal, landed him the enviable role as the investment bank's non-executive chairman — aka lobbyist in chief overseeing the fallout from Brexit and a new EU-US trade deal.

    If Trump's new-found love-in with the bankers is anything to go by, financiers from New York will be enjoying the coming festive season, knowing that the President-elect's plan to 'Make America Great Again' by investing in infrastructure and jobs will be manna from heaven for those he accused of getting away with murder.

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    Tags:
    2016 US Presidential Run, bankers, Brexit, presidency, banking, Wall Street, Donald Trump, Jose Manual Barroso, City of London, Wall Street, United States
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