The president-elect has selected the hedge-fund manager to lead the Treasury, elevating one of his most vocal supporters in the finance world.

Here's what to know about the Treasury secretary pick Bessent, who beat out a crowded field including former Fed official Kevin Warsh and billionaire Marc Rowan.

President-elect Donald Trump chose Scott Bessent to lead the Treasury Department late Friday evening. “I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States,