Top White House economic aide joining banking group

A top White House economic adviser who was instrumental in developing President Trump’s tax-cut law is leaving the administration to join a trade group representing large banks.

Shahira Knight, deputy director of the White House National Economic Council (NEC), will be joining a trade association that is being created by the merger of two major financial industry groups: The Clearing House Association and Financial Services Roundtable.

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The Clearing House Association announced Monday that Knight will be executive vice president and head of public affairs of the merged group, and will be in charge of the group’s government affairs, communications and member engagement.

“We are delighted that Shahira has chosen to join our new venture, as she is not only a brilliant legislative strategist but also someone with considerable knowledge of financial services issues,” Greg Baer, president of The Clearing House Association and the future CEO of the new group, said in a news release.

Knight joined the NEC early in 2017 and worked closely with former NEC Director Gary Cohn and others in the administration and Capitol Hill on the tax cuts. 

“Shahira has been a valued leader and member of the NEC team,” said Larry Kudlow, the current NEC director who started earlier this year. “Not only did she play a central role in developing and enacting historic tax reform last year, but she also helped coordinate and drive the President’s economic growth agenda. She was invaluable during my transition to the NEC, and I thank her for her dedication, service and knowledge on economic policy issues.”

Before joining the Trump administration, Knight worked at Fidelity. She also previously served on the staffs of the House Ways and Means Committee and Congress’s Joint Economic Committee.

Knight becomes the latest key player in the GOP’s successful tax-cut efforts to leave the public sector for K Street. A number of top aides to the House Ways and Means Committee, Senate Finance Committee and key Republican Senators have also recently made the jump to private-sector firms in recent weeks.

Politico first reported on Knight’s departure from the White House.