McIntosh’s clients, according to his financial disclosure, have included Australia Pacific LNG, Barclays Capital Inc., Bank Hapoalim, BP PLC, Graham Spanier (former Penn State president), Higher One Holdings, JPMorgan Chase, Prudential Financial, U.S. Chamber of Commerce, the Securities Industry and Financial Markets Association, Volkswagen AG, Wells Fargo & Co. and Paulson & Co.
McIntosh also reported providing legal services to an unidentified “organizational client of Sullivan & Cromwell.” He said he could not identify the client because it “is subject to a non-public investigation.”
McIntosh’s recusals will extend to matters handled by the firm Wachtell, Lipton, Rosen & Katz, where his wife, a former associate there, is a consulting attorney.
“For as long as my spouse continues to provide these services for Wachtell, Lipton, Rosen & Katz, I will not participate personally and substantially in any particular matter involving specific parties in which I know Wachtell, Lipton, Rosen & Katz is a party or represents a party, unless I am first authorized to participate,” McIntosh wrote in his ethics agreement.
McIntosh said he would divest certain assets—including holdings in Blackrock Inc., Citigroup Inc., T. Rowe Price Group Inc. and JPMorgan Chase & Co.—within 90 days of his confirmation. He also planned to divest interests in an investment fund—125 Broad Street Fund III LLC—that’s available to Sullivan & Cromwell partners and administered by the firm.
McIntosh would join Sullivan & Cromwell colleagues Jay Clayton, confirmed Tuesday as chairman of the U.S. Securities and Exchange Commission, and Jeffrey Wall, the acting U.S. solicitor general, in the Trump administration. At Sullivan & Cromwell, Clayton, a partner since 2001, reported earning $7.6 million in the year leading up to his nomination.
U.S. senators grilled Clayton about his Wall Street ties at his confirmation hearing in March. He was confirmed 61-37.
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