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May 19, 4:45 PM EDT

Trump's pick for deputy treasury secretary withdraws


WASHINGTON (AP) -- President Donald Trump's choice to be deputy treasury secretary, bank executive Jim Donovan, is withdrawing from consideration to be second in command to Treasury Secretary Steve Mnuchin (mih-NOO'-shin).

Treasury spokesman Tony Sayegh says Donovan withdrew to focus "his attention on his family."

Sayegh said in a statement Friday: "Jim has been an enormous asset to the department helping recruit and fill many of the senior jobs at Treasury. The Secretary appreciates Jim's continued support of the president and his administration."

Donovan is a managing director at Goldman Sachs and an adjunct professor at the University of Virginia School of Law. He would have helped Mnuchin, who also once worked at Goldman Sachs, in the administration's push to overhaul taxes and crack down on terrorist financing.

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