President Donald Trump has nominated G Hunter McMaster II, a former executive at hedge fund Key Square Group, to serve as Assistant Treasury Secretary for Financial Markets, formalising a role he has already been effectively carrying out since mid-2025, according to a report by Bloomberg.

McMaster is currently serving at the Treasury Department as a counsellor to the Secretary and has been performing the responsibilities of the Financial Markets post since last July. His nomination now requires Senate confirmation.

Before entering government, McMaster led trading operations at macro fund Key Square under Scott Bessent, who is now serving as US Treasury Secretary.

McMaster joined the Treasury at the start of Trump’s second term as Director of Policy and Planning before taking on his current advisory position. His career also includes previous roles at Morgan Stanley and Goldman Sachs, according to the Treasury announcement.

Originally from South Carolina, he is a graduate of Washington and Lee University.