Treasury Secretary Scott Bessent named a Wall Street and military veteran to advise on plans for a sovereign wealth fund, taking a further step toward fulfilling President Donald Trump’s idea for the U.S. to join the ranks of nations with such assets.
JR Gibbens will join the Treasury from the Pentagon, the Treasury Department said in a statement Wednesday. Gibbens worked for the Office of Strategic Capital, which seeks to use private capital to invest in national security-related projects.
Prior to his service at the Department of Defense, Gibbens was a director at Capstone Partners, working in private capital markets after co-founding a technology startup, the Treasury said. He graduated from the Air Force Academy, and began his military career as a fighter pilot. He continues to serve in the Air Force reserve, according to the department.
Trump earlier this month signed an executive order directing officials to create a sovereign wealth fund for the U.S.
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