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Trump is set to tap Goldman Sachs' Gary Cohn as the National Economic Council director

Elena Holodny and Portia Crowe
Gary Cohn
Gary Cohn

(Reuters/ Ueslei Marcelino)

President-elect Donald Trump is set to tap Goldman Sachs' Gary Cohn as the National Economic Council director, according to multiplereports.

Cohn is the president and chief operating officer of the Wall Street firm, and he trails only CEO Lloyd Blankfein in stature.

The National Economic Council advises the president on US and global economic policy.

Trump appointed former Goldman Sachs banker Steven Mnuchin as Treasury secretary last month. And Steve Bannon, his incoming chief strategist, is also a Goldman Sachs alum.

Goldman shares are up by about 30% since Trump's victory on November 8.

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The president-elect was highly critical of Wall Street throughout his campaign. He condemned Democratic nominee Hillary Clinton for her ties to Goldman Sachs and other Wall Street firms — and for earning hundreds of thousands of dollars for speeches given to the global investment bank and its clients.

Goldman Sachs declined to comment.

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