Goldman executive to become German deputy finance minister

Jörg Kukies, co-head of Germany and Austria at Goldman Sachs, is to become Germany’s deputy finance minister, in the latest example of a Goldman veteran occupying a senior position in a western government.

Mr Kukies, 50, will be in charge of financial markets and the finance ministry’s European policy.

The equities specialist had previously spent 17 years at Goldman.

A spokesman for the finance ministry said he would be in charge of “further securing the European banking sector and the other Europe dossiers”, as well as “questions of financial market regulation”.

Left-wing MPs reacted angrily to Mr Kukies’ appointment. “Bankers’ boss switches to politics, at public expense,” Bernd Riexinger, an MP for the Left Party, tweeted. “[New finance minister] Olaf Scholz really cares about customer service in the finance ministry.”

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