Trump names former Goldman Sachs partner as new national finance chairman
Donald Trump (AFP Photo/Gaston De Cardenas)

Republican Donald Trump on Thursday named Steven Mnuchin, chairman and CEO of private investment firm Dune Capital Management LP, to serve as the national finance chairman for his presidential campaign.

Mnuchin, a former partner at Goldman Sachs, is taking one of the first high-profile jobs in the campaign that Trump has filled, opting for someone who does not have a long history in politics.

Trump, the presumptive Republican nominee, said on Wednesday he will begin to raise money for his general election bid after self-funding a majority of his primary campaign.

Fundraising by Trump will require a balance, especially since much of his campaign message has rested on his refusal to raise money and his decision to self-fund his campaign.

Historically, political parties have depended on the ability of their nominee to raise money in order to fund their other operations, including working to elect members of the House and Senate.

Trump said he will work closely with the Republican National Committee - which already has a fundraising operation - to help both his own campaign and those of other members of the party for the November election.

Representative Chris Collins of New York, who was the first lawmaker to endorse Trump, said the move to start raising money will help bring the party together.

“You’ll see that pivot to the general election, which is uniting the party, and fundraising is a very big part of uniting the party, with the influence money has in elections these days,” Collins told Reuters in an interview.

The selection of Mnuchin offers some insight on the team Trump will assemble and whether he will continue to look outside the political class while filling high-profile roles. Mnuchin and Trump have worked together previously in a business capacity, the campaign said.

“Steven is a professional at the highest level with an extensive and very successful financial background," Trump said in a statement announcing the selection. "He brings unprecedented experience and expertise to a fundraising operation that will benefit the Republican Party and ultimately defeat Hillary Clinton.”

(Reporting by Megan Cassella and Susan Cornwell; Editing by Doina Chiacu and Dan Grebler)