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Morgan Stanley's Michael Grimes in talks for role in Trump administration, WSJ reports
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Morgan Stanley's Michael Grimes in talks for role in Trump administration, WSJ reports
Jan 22, 2025 7:01 PM

Jan 22 (Reuters) - Michael Grimes, a technology banker

with Morgan Stanley ( MS ), is in talks to leave the bank for a

position in U.S. President Donald Trump's administration, the

Wall Street Journal reported on Wednesday, citing people

familiar with the discussions.

It wasn't immediately clear what specific role Grimes is

pursuing, the report said, but suggested that he may be working

with the Department of Government Efficiency, or DOGE, an

advisory group focused on implementing significant cuts to the

U.S. government.

DOGE, led by Tesla CEO Elon Musk, has ambitious

goals of dismantling entire federal agencies and cutting

three-quarters of federal government jobs.

A few sources told the WSJ that Grimes' role in the

administration could also be something more general.

Last November, Trump named Musk to the role aimed at

creating a more efficient government, further boosting the

influence of the world's richest man, who had donated millions

to support Trump's election campaign.

Musk was supposed to co-lead the department with former

Republican presidential candidate Vivek Ramaswamy, though the

latter recently stepped down to campaign for elected office.

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