Trump taps Goldman No 2 Cohn for economic council

President-elect Donald Trump on Monday named Gary Cohn, current president and chief operating officer of Goldman Sachs, to lead the White House's National Economic Council.

"As my top economic advisor, Gary Cohn is going to put his talents as a highly successful businessman to work for the American people," Trump said in a statement.

Cohn called the selection "a great honor."

"I share President-elect Trump?s vision of making sure every American worker has a secure place in a thriving economy, and we will be completely committed to building a nation of strength, growth and prosperity," Cohn said.

Former president Bill Clinton established the council in 1993 to advise the president on domestic and global economic policy. It has been led by former Treasury secretaries Robert Rubin and Larry Summers, and former Federal Reserve governor Larry Lindsey.

The Cohn announcement brings to three the number of current and former Goldman Sachs bankers with key roles in the incoming Trump administration, including Steven Mnuchin as Treasury secretary and Steve Bannon as White House strategic advisor. Anthony Scaramucci, a member of the presidential transition team, also has worked at Goldman Sachs.

Trump, who takes office in less than six weeks, attacked his rivals on the campaign trail for their connections to the bank.

Cohn, 56, joined Goldman Sachs in 1990, overseeing its fixed income, currency and commodities division and rising to the bank's second most senior position in 2006 beneath CEO Lloyd Blankfein.