In November, President-elect Donald Trump tapped Scott Bessent, a billionaire hedge fund investor, as his pick for Treasury secretary, a role that will advise the incoming President on key economic policies. Bessent stood out from a roster of high-profile Wall Street contenders including Apollo CEO Marc Rowan, Cantor Fitzgerald CEO Howard Lutnick and JPMorgan Chase’s Jamie Dimon.
Bessent, 62, will replace Janet Yellen as the Treasury secretary, pending a Senate confirmation. Unlike Yellen...