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Bessent, Paulson seen as leading candidates for Treasury

Secretary

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Unclear whether Paulson meeting with Trump

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Trump making appointments ahead of 2025-2029 term

(Recasts with Bessent meeting Trump)

By Steve Holland, Alexandra Ulmer and Lawrence Delevingne

WEST PALM BEACH, Florida, SAN FRANCISCO, Nov 8 (Reuters)

- P rominent investor Scott Bessent met with Donald Trump on

Friday as he and fellow investor John Paulson emerge as leading

candidates for the key role of U.S. Treasury Secretary,

according to two people close to the president-elect.

Bessent and Paulson are among several names that have been

reported in the media as potential candidates for the role in

recent days. A final decision rests with Trump, and Reuters was

unable to learn whether others had been ruled out or were still

in contention.

One of the two sources said Bessent's meetings at Trump's

Mar-a-Lago Florida estate were "very positive."

Trump's spokespeople did not respond to a request for

comment. Spokespeople for Bessent and Paulson declined to

comment.

It was unclear whether Paulson had met or had plans to meet

with Trump.

Trump, who is set to return to the White House on Jan. 20,

has begun the process of choosing a Cabinet and selecting

high-ranking administration officials.

The Treasury Secretary job is a key Cabinet position, with

vast influence over economic, regulatory and international

affairs. Wall Street has been closely watching who Trump will

pick, especially given his plans to remake global trade through

tariffs.

Bessent and Paulson, both financial backers of Trump's

campaign, have long been in Trump's sights for such a role.

During a January campaign speech, Trump floated Paulson as a

potential Treasury Secretary. A source familiar with the matter

at the time said Trump wanted Paulson to lead Treasury, and if

not him, Bessent.

A longtime hedge fund investor who taught at Yale University

for several years, Bessent has a warm relationship with the

president-elect and has spoken highly of Trump's use of tariffs

as a negotiating tool. Paulson, a billionaire investor and major

Trump donor, is a longtime proponent of tax cuts and

deregulation.

Other names that have been speculated about for the role are

FOX Business Network personality Larry Kudlow, Trump's former

U.S. trade representative Robert Lighthizer and Howard Lutnick,

the co-chair of Trump's transition team.

Corporate attorney Jay Clayton, former head of the U.S.

Securities and Exchange Commission during Donald Trump's

presidency, is meanwhile in talks for several potential roles in

a second Trump term, although is seen as less likely for

Treasury Secretary.

JPMorgan Chase ( JPM ) CEO Jamie Dimon, who has also been

speculated, has no plans to join Donald Trump's administration,

a source said earlier this week.

According to online betting website Polymarket, Bessent is

the lead candidate for Treasury Secretary, with Paulson next

likely and Clayton and Kudlow at smaller odds.

Trump on Thursday announced that Susie Wiles, one of his two

campaign managers, will be his White House chief of staff, in

what is expected to be a flurry of staffing announcements.