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Wilbur Ross confirmed as commerce secretary

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Wilbur Ross confirmed as commerce secretary

Wilbur Ross, the billionaire investor and founder of private equity firm WL Ross & Co. LLC, has been confirmed as Secretary of Commerce.

The vote was 72-27, according to Politico.

In his confirmation hearing, Ross reiterated many of the economic priorities President Donald Trump expressed during his campaign, including growing American exports and scaling back regulation throughout the economy.

As part of an ethics agreement, Ross is expected to divest many of his investments and holdings and resign from several leadership positions, including his chairmanship at WL Ross and board seats at Sun Bancorp Inc. and Sun National Bank.