In the wake of his appointment as the next Treasury Secretary by President-elect Donald Trump, Steven Mnuchin has resigned from his post as a board member at the Los Angeles Museum of Contemporary Art (LA MOCA), reports the Los Angeles Times.
“Since I’ll be focusing my full-time efforts as nominee for Secretary of Treasury, I’ve decided to resign from MOCA’s Board of Trustees,” Mnuchin said in a statement Friday. “I have very much enjoyed my seven years on the Board at MOCA, one of the country’s most important contemporary art institutions.”
The move does not come entirely as a surprise. Mnuchin was once on the board of the Whitney Museum in New York, though his name is no longer listed on the site. Sitting on the Board of the LA MOCA—which also includes artists Mark Bradford, Barbara Kruger, and Catherine Opie—helped to make Mnuchin a fairly prominent player in the art world, in addition to the role of his father, Robert Mnuchin, as powerhouse gallerist on the Upper East Side.
Mnuchin also previously worked as a partner at Goldman Sachs and was formerly the co-chairman of Relativity Media studio. During the campaign, he acted as Trump’s campaign finance chair.
“Steven is a professional at the highest level with an extensive and very successful financial background,” Donald Trump said in a statement announcing Mnuchin’s appointment to finance chair during the campaign.
According to the LA Times, Mnuchin also stepped down from the boards of CIT Group Inc. and Sears Holdings Corp. on Friday.