Trump appoints Jay Clayton as the chief federal prosecutor in Manhattan.

The elected president Donald Trump has appointed Jay Clayton, a longtime corporate lawyer and former Wall Street regulator, as the U.S. Attorney overseeing Manhattan. This is reported by Politico.

Clayton served as the chairman of the Securities and Exchange Commission during Trump's first term, but he lacks experience as a criminal prosecutor. If confirmed by the Senate, Clayton will lead the most prestigious federal prosecutor's office in the country: the Southern District of New York, which has jurisdiction over major financial institutions and handles numerous high-profile white-collar crime and public corruption cases.

The 58-year-old Clayton was a lawyer on Wall Street at Sullivan & Cromwell, representing large financial institutions before being appointed to the Securities and Exchange Commission in 2017.