Key Square Group, the hedge fund started by Scott Bessent in 2015, has seen its assets under management drop sharply over the past six years on the back of a series of major losses

The founder of hedge fund Key Square Capital Management has been announced as Donald Trump’s pick for Treasury Secretary. Find out more about his financial standing here.

The founder of Key Square Group was deemed a strong favorite to lead the Treasury Department, along with several other contenders.

In the hedge fund industry, Bessent is respected for his consistent track record and his ability to maintain strong relationships with key figures like George Soros. His success in transitioning from managing one of the world's most famous investment portfolios to building his own successful firm has cemented his position as a significant figure in the global investment community.

In a sea of controversial choices for the incoming administration, the president-elect’s choice for treasury head is being welcomed on Wall Street with open arms. In a sea of controversial choices for his second term,

Bessent of the Key Square Group is considered a more market-oriented type that advocates deregulation and the development of the economy. Consistent with Trump's economic policy direction, his other positions include the gradual introduction of tariffs and standing down on regulations,

President-elect Donald Trump’s pick for Treasury Secretary operates a hedge fund that reaped a massive windfall two years ago — even as global markets sagged.