The president-elect has selected the hedge-fund manager to lead the Treasury, elevating one of his most vocal supporters in the finance world.

Scott Bessent is an investor and hedge fund manager. He served as chief investment officer at Soros Fund Management before founding Key Square Group, an investment firm that focuses on macroeconomic strategies, including analyzing economic, political, and market conditions to place trades on currencies, interest rates, commodities and equities.

The Treasury Secretary is a high-level Cabinet position charged with advising the president on matters related to financial, economic and tax policy.