Private equity executive Feinberg in talks to join Trump administration

Reuters News
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Posted: Feb 02, 2017 1:36 PM

(Reuters) - Cerberus Capital Management LP's chief executive, Stephen Feinberg, is in talks to join U.S. President Donald Trump's administration in a senior role, the private equity firm said on Thursday.

The move would require Feinberg to provide "voluminous information" and disclosures to the Office of Government Ethics and take actions to comply with all applicable conflict-of-interest rules and regulations, Cerberus told its investors earlier on Thursday in a letter seen by Reuters.

Cerberus also told its investors that it has a succession plan in place that would result in minimal changes to the current management and operation of the firm.

(Reporting by Greg Roumeliotis in New York; Editing by Jonathan Oatis)