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 Treasury Secretary is a high-level Cabinet position charged with advising the president on matters related to financial, economic and tax policy.

US President-elect Donald Trump is expected to pick billionaire Scott Bessent as his Treasury secretary, media outlets reported Friday, choosing the hedge fund manager to help execute an agenda promising tax cuts and tariffs.