Thursday 19 January 2017

Familiar voice in White House could prove useful

Published 17/11/2016 | 02:30

Wall Street tycoon Wilbur Ross. Photo: Bloomberg
Wall Street tycoon Wilbur Ross. Photo: Bloomberg

He is the US billionaire who tripled his money by buying into Bank of Ireland at the bottom of the market - and now he is tipped to join Donald Trump's cabinet.

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Wall Street tycoon Wilbur Ross and banker-turned-movie producer Steve Mnuchin are reportedly being considered to head the US departments of the treasury and commerce.

Mr Ross became well known here after the crash. The affable, genteel 78-year-old was part of a five-strong group of North American investors who spent €1.1bn buying 35pc of Bank of Ireland, in what was seen as one of the most daring transactions ever. Other investors were Canada-based Prem Watsa, Fidelity, the Capital Group and Kennedy Wilson.

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