Financial advisers who were not previously considered for the job of Treasury secretary, which was created in April 2018, have now been given the go-ahead to join the Trump administration.
The move is a signal to the rest of the country that Wall Street and its biggest financial players are in the running to replace the current Treasury secretary.
The Financial Industry Regulatory Authority (FINRA), a group of 12 big financial firms, has been working on a list of potential candidates for the position, which has been described as the biggest financial job in the US since the post was created.
It has been under review since September 2018, with a new list of candidates expected in January 2019.
According to an FERC filing, the top 10 candidates were all in the financial sector.
Among them are JPMorgan Chase CEO Jamie Dimon, former New York City Mayor Michael Bloomberg and former Barclays Chief Executive John Cryan, who has been widely considered for other top jobs.
FINRA’s list is expected to include former US Treasury Secretary and Treasury Under Secretary Steve Mnuchin, who is also reportedly a top contender for the finance job.
In its filing, the regulator said that the top financial industry candidates have experience working on financial regulation and were among the top 10 people who could best serve the president, who appointed the group to act as the “executive regulatory arm” of the Treasury Department.
One of the top candidates on the list, Jamie Dimons former boss, was also a director of Goldman Sachs for several years.
He has also been the CEO of JP Morgan Chase since 2005.
Other names mentioned on the listing include Mnuchin, Cryan, Moody’s chief executive James Dimon and Jamie Dimon’s son, who runs a hedge fund called Blackstone.
“These financial market professionals are qualified to serve as Treasury Secretary because of their extensive experience in regulatory, compliance and oversight, as well as their expertise in the provision of financial services and the regulatory and legislative communities,” FINRA said in a statement.
FINARA also said that former Citigroup CEO Vikram Pandit has been a long-time candidate for the Treasury post.
Pandit is currently working at the Treasury under President Joe Biden, who was accused of corruption during his time as secretary.
The list of financial advisers is being considered in a bid by President-elect Donald Trump to build his administration from scratch, after the former vice president, Mike Pence, resigned earlier this month, sparking the appointment of new cabinet members, including former hedge fund billionaire Anthony Scaramucci as the first US chief of staff.
Mr Trump has also said he is open to other financial advisers, and said in October 2018 that he wants to hire “the best people”.
It was announced in January that the federal government would hire more than 4,000 financial advisers.
After a tumultuous election campaign, Mr Trump has not yet named a nominee for the top job.
He is currently leading a transition that includes hiring former Goldman Sachs CEO Lloyd Blankfein as treasury secretary, exiting the Treasury to work at Goldman Sachs, and appointing his personal secretary to oversee the transition.
President Barack Obama has also named a Treasury secretary who was also a former Goldman partner.
Since taking office, Mr Obama has not had any financial advisers in his administration.