Wilbur Ross's name has been approved by the Senate, as President Donald Trump's Secretary of Commerce.
The Senate confirmed Ross's name after lawmakers voted 72-27 in his favour.
The Democrats had demanded Ross to explain his connections to Viktor Vekselberg, a Bank of Cyprus shareholder, who is described as a friend to Russian President Vladimir Putin, reports CNN.
Ross, in reply, has indicated that he will step down from the Bank of Cyprus after he takes office.
Ross is an American investor and a banker, known for restructuring failed companies in industries such as steel, coal, telecommunications, foreign investment and textiles.
He is also known as the "King of Bankruptcy" for his experience in buying bankrupt companies.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
