WASHINGTON — Goldman Sachs banker James Donovan has dropped out of the running for deputy Treasury secretary. Donovan was nominated in March to become Treasury Secretary Steven Mnuchin's right-hand man.

But he withdrew his name as nominee this week over family concerns, he said in a press release. The news was first reported by Politico.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.