|
Jay Clayton was nominated by Donald Trump to serve as director of national intelligence after his previous choice, Federal Housing Director Bill Pulte, drew bipartisan criticism. However, many of the concerns lawmakers had about Pulte are also true of Clayton. Clayton, like Pulte, lacks experience in the field of intelligence. His entire career has been in the legal field, mostly representing Wall Street interests, and he has no experience with intelligence or foreign policy. And, like Pulte, Clayton has demonstrated his loyalty to Trump in his administration role. As U.S. attorney, Clayton loyally executed Trump’s agenda, standing aside as the president purged his office of political enemies and following a directive from Pam Bondi to focus his investigations into Trump’s longtime friend Jeffrey Epstein on Democrats. Rhetorically, too, Clayton has distinguished himself as loyal to the party line. He has consistently downplayed Trump’s corruption and the Epstein scandal, even suggesting that the decision to release the Epstein files was improperly taken because most of the people in them were innocent. More concerningly, Clayton publicly argued that people were “right” to have suspicions with the results of California’s 2026 primary elections, particularly for the mayor of Los Angeles, and said that the system of mail-in ballots enabled election fraud, comparing the system to the restrictions of the Jim Crow era. Clayton’s lack of foreign policy experience has not stopped him from pushing an interventionist agenda. He praised the raid that captured Nicolas Maduro and suggested it should be repeated against individuals the U.S. deems guilty of involvement in the drug trade across Latin America, particularly in Mexico. Clayton also said that the United States should “correct the mistake” of allowing Iran to be in a position to control the Strait of Hormuz, which goes far beyond Donald Trump’s current goals in negotiations. |
Clayton Had No Intelligence Experience, Instead Pursuing A Career In Law. According to Politico, “Clayton came to the U.S. attorney’s office from the prominent law firm Sullivan & Cromwell, where he spent much of his career before and after his stint at the SEC — though he has no experience in the intelligence world.” [Politico, 6/11/26]
Clayton’s Need To Undergo A Detailed FBI Background Check Threatened To Delay His Confirmation As DNI. According to Politico, “But it remained unclear how quickly the Senate might confirm Clayton, who will have to fill out a detailed questionnaire, undergo an FBI background check and sit for a public hearing, among other steps before a final vote.” [Politico, 6/11/26]
2025: Clayton Alienated Prosecutors In His Office By His Failure To Defend Maurene Comey, Whom Trump Fired. According to Politico, “At the Manhattan U.S. attorney’s office, widely considered the most prestigious prosecutors’ office in the country, federal prosecutors were skeptical of Clayton’s credentials, given that he had no prior prosecutorial experience. And he did little to win allies last summer when the Trump administration fired one of the office’s star assistant U.S. attorneys, Maurene Comey, daughter of former FBI director and Trump foe James Comey. While Clayton didn’t order her termination, prosecutors in the office believed he should have stood up for her.” [Politico, 6/11/26]
November 2025: Clayton Was Tapped To Lead An Investigation Into Democrats Associated With Jeffrey Epstein, At The Direction Of Attorney General Pam Bondi. According to PBS News, “Former Attorney General Pam Bondi announced in November that Clayton would investigate Epstein's connection to prominent Democrats under Trump's directive. Bondi described Clayton as ‘one of the most capable and trusted prosecutors in the country.’” [PBS News, 6/12/26]
2026: Clayton Oversaw The Prosecution Of Nicolas Maduro. According to The New York Times, “What have been the most important cases in the Manhattan U.S. attorney’s office during Mr. Clayton’s tenure? The Southern District has long been known for pursuing cases that reach beyond U.S. borders and involve national security. The office is currently prosecuting Nicolás Maduro, the former president of Venezuela, who was captured by U.S. military forces in January and brought to Manhattan to face a cocaine importation conspiracy charge and other counts. Mr. Maduro has pleaded not guilty.” [New York Times, 6/11/26]
June 8, 2026: Jay Clayton Said That People Were Right To Question Election Integrity And Called For An “Audit Trail” For Elections, Citing Boarding Airplanes As An Area Of Life Where ID Was Necessary. VIDEO [00:02:07] JAY CLAYTON: On the integrity side, we're doing an absolutely terrible job and the American people are right to question it. How come we can have an audit trail in every other aspect of our lives that's important? People cite getting on planes and the like and things. [CNBC, 6/8/26]
June 8, 2026: Jay Clayton Identified “Election Integrity” As Equally Important To The Voting Rights Act, And Claimed That There Were No Issues With Access To The Ballot Box. VIDEO [00:01:08] JAY CLAYTON: Well, look, we had a problem, a deep problem with voting in America. We had race based discrimination around voting that was identified. We had the Voting Rights Act. It was all- it was all about access, making sure that people were not denied access. There was a second element to it, which was election integrity, making sure that once everybody has access, that their vote actually counts, that it's not being diluted by illegal voting or shenanigans and the like. I think we've done a pretty darn good job on access. I don't hear anybody claiming that they don't have access to the ballot box. [CNBC, 6/8/26] 260608_HEB_17653_A
June 8, 2026: Jay Clayton Said That People Who Said That There Was No Fraud In California’s Elections Were Wrong, Due To California Not Requiring Voter ID. VIDEO [00:05:58] ANDREW ROSS SORKIN: But I only say that because the president over the weekend very openly didn't just speculate that there was fraud. He said directly that there was fraud. JAY CLAYTON: Let me also say this, Andrew. There are a lot of people who look at this and say there is no fraud. Okay? I don't think that they're right either. When you have a situation where you don't have voter ID, where there's- you know, there's no voter ID in New York, and one of the most ironic things in the last six months of my life is, I go in to vote last November, I go into my local school and you know what that says? Above the door in the local school? Must have I.D. to enter, must have I.D. to enter the school. But the person in front of me pulled out their ID and the poll worker said, I don't need that. Just sign up. I'm like, you know, it was almost Kafkaesque. [CNBC, 6/8/26]
May 21, 2026: Clayton Supported Donald Trump’s “Anti-Weaponization Fund” To Be Paid Out To His Supporters And Implied That The January 6 Defendants Had Been “Pursued Inappropriately”. VIDEO [00:13:10] ANDREW ROSS SORKIN: I, look, Jay I was going to ask, and you may not be able to answer this question, so you can, you can, you can wave it off, I guess, given who your bosses are. But I was just curious what your reaction was to the settlement between the president and the IRS, but maybe more importantly, this fund that's been created, this $1.8 billion fund that's been created for victims of weaponization. There's been lots of questions about it, questions about, you know, how the president could reach a deal with a government or an administration that he controls, how you think the public should think about the credibility of of a deal like that, and then how this fund may or may not work, given some of the things, including Pam Bondi's memo last year, suggesting that a fund like this shouldn't exist. JAY CLAYTON: You know, let me, let me take a step back and tell you the way I look at this as the US attorney for the Southern District. When we are investigating people and bringing charges against them, criminal charges against any individual from a financial point of view can be absolutely devastating. And one of the, one of the huge things you have to think about is, you know, do I have enough here? Is this right to bring criminal charges and put somebody through that kind of financial route? It's a reality. And if and if people have been pursued inappropriately, that financial cost, I'm supportive of there being relief for that financial cost. [CNBC, 5/21/26]
May 21, 2026: Jay Clayton Defended Donald Trump’s Seeking Of Compensation From The IRS For The Leak Of His Tax Returns And The Deal To End His Case Against The IRS. VIDEO [00:18:12] JAY CLAYTON: We intentionally leak your tax returns to embarrass you in the public. You have a claim against us. There's an audit that we don't know whether this money was owed or not owed. To resolve that, we say, you know what, Andrew? We're going to drop the audit. We're going to move on and you're going to drop your claim against us for trying to name and shame you. That's a deal I think that, you know, is actually a pretty good deal for the government if the government intentionally leaks somebody's tax returns. That's a horrible thing. [CNBC, 5/21/26]
February 2, 2026: Jay Clayton Agreed With The Idea That There Was No Proof Of Quid Pro Quo In Dealings Between Donald Trump And The UAE, And Redirected The Conversation To Congressional Stock Trading. VIDEO [00:03:15] JOE KERNEN: So we're talking about this UAE deal. So a sovereign fund invested in a Trump family crypto venture before the inauguration. And then after the inauguration, the Trump administration OKs some chip sales to the UAE, which the Biden administration says, says it's not going to do it. I said, you need to find the quid pro quo and the smoking gun. And I was told that is the smoking gun. It's already there. And if the Trump administration says- and I'm not saying that it doesn't look bad or I'm not saying there's no conflict of interest, but if they say we looked separately at the security concerns that the Navy, the prior administration had, we have been convinced by blah, blah, blah that that has been satisfied and this has changed and they have to add this and this. You need to be able to prove quid pro quo before you can say it's quid pro quo, don't you. JAY CLAYTON: Yes. KERNEN: So do we have- is it quid pro? Can you tell me because I was told definitively it's quid pro quo. It's right there. It's right before your eyes. JAY CLAYTON: Joe. Wherever we calibrate the ethics rules, there are going to be people who are not happy. But, but, there are two things that I think are really important. And one of them is congressional trading that we've been talking about. [CNBC, 2/2/26]
January 5, 2026: Jay Clayton Endorsed The Operation To Kidnap Nicolas Maduro, As Well As U.S. Interventions Into The Middle East, And Proudly Led The Effort To Prosecute Him In New York Courts. VIDEO (00:04:08:06) ANDREW ROSS SORKIN: The biggest question, I think, that in the country to some degree is the constitutionality of us effectively going into another sovereign country and extracting the leader of that country. I imagine this is going to be the argument that his lawyers are going to make before you even get into the merits of the case itself. JAY CLAYTON: And, Andrew, for- thank you for saying that, because for those reasons, let's, let's, let's stick to, you know, facts- facts on the ground as we know them. People have been making the analogy to Noriega. There are other precedents to look at, including- and I would encourage people to look at this- Libya, you know, Benghazi and the arrest of a number of people who were engaged in that. And then one that's close to my heart, the most recent: Pan Am 103. Now, after years and years they’ve finally brought the justice through Libya. Yeah, there's examples in Syria and combatants during those wars being backed back to the United States. So there is precedent. What I'll say from from the perspective of of where I sit, my people and I are completely comfortable with this prosecution. [CNBC, 1/5/26]
Clayton Owned Stocks In Companies That Stood To Benefit From The Regime Change In Venezuela. According to The Lever, “Clayton, President Donald Trump’s pick to run the Justice Department’s ‘top-dog’ Southern District of New York office, owns stakes in multiple oil and gas companies that stand to benefit from Venezuela’s regime change” [The Lever, 3/12/26]
May 21, 2026: Jay Clayton Voiced Support For “Finishing The Job” Against Iran, And Called Their Being Able To Control The Strait Of Hormuz A “47 Year Mistake” In Need Of Correction. VIDEO [00:10:33] JAY CLAYTON: 47 years of terror, the type of person that we've just talked about is way too long. People who believe in that kind of terror and support that kind of terror cannot have a nuclear weapon. I very much believe in finishing the job. That's- on the nuclear side, that's my, my personal view. On the other side, the Strait- the fact that, let's pick a number, 20 million barrels a day is somehow controlled by this radical state that believes in terror, that believes that Western civilization should be eradicated. That's a- that's a 47 year mistake or a 30 year mistake or whatever it is. And we need to correct that. [CNBC, 5/21/26]
January 5, 2026: Jay Clayton Called The Question Of Intervening In Mexico As The U.S. Did In Venezuela An “Interesting Law School Question” And Compared The Hypothetical To Killing Osama Bin Laden. VIDEO [00:07:47] ANDREW ROSS SORKIN: I guess the, the question is, where's the line then in terms of going into another country? And this is this is this is the question. So you would, if you're going to do Venezuela, would you do Mexico? Is this a pretext? I mean, the other question is this. (crosstalk) Here we are looking at the stock price of Chevron and other companies. Obviously, Chevron is really the only major American company that has a, a big operation there. People, look, even what the president said, there's an argument to be made that this is a pretext, right, effectively for our ability to control valuable oil and minerals and other things. JAY CLAYTON: Let me take a- let me take a step back and say this, that these types of questions, they're they're interesting law school questions. I think you have to deal with each of these things idiosyncratically, right? Did anybody- we, we had a kill or capture against bin Laden. You know, an indicted, you know, indicted, indicted for the bombings in the embassies in Africa. And that, that, I don't think any American felt bad about that. [CNBC, 1/5/26]
January 5, 2026: Jay Clayton Identified Mexican Drug Traffickers Controlling “Significant Portions” Of Mexico As Security Threats To The U.S. And Stated His Wish That They Be Indicted By The U.S. And “Brought To Justice”. VIDEO [00:10:41] JAY CLAYTON: What do we know about Mexico without stating anything specific. But we'll get back to- we know that significant portions of that country are controlled by drug traffickers. That's what we know. ANDREW ROSS SORKIN: And therefore- JAY CLAYTON: And those drug traffickers are bringing deadly fentanyl into the United States. From my office's perspective, we're going to build cases against people like that. Hopefully get enough information, enough to indict them. And we want them brought to justice. [CNBC, 1/5/26]
March 9, 2026: Jay Clayton Supported Indictments On Drug Charges Of Individuals All Across Latin America, Including The Mexican State Of Sinaloa, Citing Nicolas Maduro’s Case As The Model. VIDEO [00:07:44] JAY CLAYTON: We are looking at people who I would say engaged in activity, just like the type that the Maduro indictment, the conspiracy indictment charges throughout, Central and South America. INTERVIEWER: As in Mexico? JAY CLAYTON: That may- well- I think it is no secret that Sinaloa and other places in Mexico have huge narco trafficking problems. [CNBC, 3/9/26]
2025-2026: Jay Clayton Oversaw The Document Review For The Epstein Files As U.S. Attorney For Manhattan. According to The New York Times, “The office also oversaw much of the document review, mandated by Congress, related to the convicted sex offender Jeffrey Epstein, who was being prosecuted by the Southern District in 2019 when he was found hanged in a jail cell, a death that was ruled a suicide.” [New York Times, 6/11/26]
February 2, 2026: Jay Clayton Argued That The Epstein Files Should Only Have Been Released Under “Exceptional Circumstances” And Defended The Lack Of Prosecutions By Saying That “A Lot” Of The Allegations In The Files Had “No Basis In Fact.” VIDEO [00:14:35] REBECCA QUICK: Well, that's what I was going to ask you. Should this material have been released? We think it raises the question of, you know, where- where are the arrests? There's never been any of Jeffrey Epstein's clients who we've seen any arrests. JAY CLAYTON: And- well, I don't- it should be the very exceptional circumstance, very, very exceptional circumstance where we release this material for all the reasons you're seeing, the victim protection- paramount. But there are allegations in there that within ten or 15 minutes of work, you can realize have no basis in fact. [CNBC, 2/2/26]
February 2, 2026: Jay Clayton Praised The “Transparency” Of Pam Bondi And Todd Blanche’s Handling Of The Release Of The Epstein Files, And Defended Their Release With Significant Redactions. VIDEO [00:16:23] JAY CLAYTON: And one thing that I applaud, Deputy Attorney General Blanche and the attorney general herself said to Congress, look, there are lots of redactions. Public can look at those redactions, but a member of Congress can come to the Justice Department with appropriate confidentiality arrangements and look at those documents. And that type of transparency, I think, is, is extremely important in this exercise. [CNBC, 2/2/26]
Clayton Investigated The Epstein Files While Holding Stocks In Companies Under Scrutiny For Ties To Epstein. According to Yahoo News, “Jay Clayton, Donald Trump's pick to lead the District of Southern New York, has been tasked with investigating "people and institutions" tied to Jeffrey Esptein—but he himself has financial ties to the very Wall Street banks and firms under scrutiny, The Lever reported Thursday. Clayton holds between $1.5 million and $6 million worth of Apollo Global Management stock, according to public financial disclosures. He previously served as the group's board chairman from 2021 until his Justice Department appointment in 2025. Leon Black, the billionaire former CEO of Apollo Global Management, was ousted from his role in 2021 after an internal review discovered he'd made $150 million in payments to Epstein for financial advice between 2012 and 2017. Black was later accused of raping a 16-year-old at Epstein's mansion. He was ordered Thursday to be deposed as part of a lawsuit alleging Bank of America profited from Epstein's alleged sex-trafficking. Clayton also holds between between $15,000 and $50,000 in JPMorgan Chase and Bank of America stock, as well as between $1,000 and $15,000 in Bank of New York Mellon and Citigroup stock—where Congress alleges $1.5 billion in ‘suspicious financial transactions tied to sex trafficking crimes committed by Jeffrey Epstein’ and his co-conspirators once flowed.” [Yahoo News, 3/13/26]
2011: Clayton Oversaw A New York Bar Association Report That Called The SEC And The Justice Department “Zealous” In Their Enforcement Of Laws Related To The Corporate Bribery Of Foreign Officials. According to The Wall Street Journal, “In one of his few public statements on policy, Mr. Clayton oversaw a 2011 New York State Bar Association report attacking the Obama-era SEC and Justice Department for ‘zealous’ enforcement of laws aimed at American corporate bribery of foreign officials.” [Wall Street Journal, 1/4/17]
2010: Clayton Helped Italian Oil Company Eni Secure A $365 Million Bribery Settlement With The SEC. According to CNN Money, “Clayton already has experience working with the SEC, albeit on the other side. In 2010, Clayton helped secure a $365 million bribery settlement with the SEC on behalf of Italian oil giant Eni (E).” [CNN Money, 1/4/17]
Goldman Sachs Hired Clayton To Advise On Its Troubled Asset Relief Program (TARP) Bailout. According to CNN Money, “Goldman Sachs (GS) also hired Clayton to advise on the Wall Street firm's TARP bailout as well as the crucial $5 billion investment it received from Warren Buffett's Berkshire Hathaway (BRKA) during the crisis.” [CNN Money, 1/4/17]
September 2008: Clayton Represented Goldman Sachs On A $5 Billion Investment It Received From Warren Buffett’s Berkshire Hathaway. According to the International Business Times, “President-elect Donald Trump’s pick for the chairman of the Securities and Exchange Commission (SEC) could be another Wall Street face — lawyer Jay Clayton — reports said Tuesday, with the announcement expected to come as soon as Wednesday. […] The University of Pennsylvania graduate represented Goldman when it received a $5 billion investment from billionaire Warren Buffett’s Berkshire Hathaway at the peak of the credit crisis in September 2008.” [International Business Times, 1/4/17]
2014: Clayton Worked With Alibaba Group Holding Ltd. On Its Initial Public Offering. According to the International Business Times, “Clayton, who is a partner at Sullivan & Cromwell LLP, reportedly met with Trump on Dec. 22. With clients including Goldman Sachs Group Inc. and Barclays Capital Inc., he also worked on the 2014 initial public offering of Alibaba Group Holding Ltd., the firm’s website showed.” [International Business Times, 1/4/17]
2008: Clayton Represented The Underwriters Of Artio Global Investors’ IPO, Led By Goldman Sachs. According to Fortune, “Clayton represented the underwriters of the $650 million Artio Global Investors IPO in 2008. Goldman Sachs served as the lead underwriter in the deal. Artio Global Investors was later acquired by Aberdeen Asset Management” [Fortune, 1/5/17]
Clayton Represented Goldman Sachs And Lehman Brothers In 2007 As They Coordinated The Global Offering Of Och-Ziff Capital Management. According to Forbes, “Hedge fund firm Och-Ziff Capital Management (OZM, +0.63%) was founded by a former Goldman Sachs trader. When the financial company decided to go public in 2007, it choose Goldman Sachs and Lehman Brothers to coordinate its global offering, with Clayton representing the two.” [Fortune, 1/5/17]
Fortune Reported That Clayton Had Been Advising Goldman Sachs Since At Least 2002. According to Fortune, “Like many of Trump's other nominees and advisor picks, Clayton has a history with Goldman Sachs. He has advised the bank on how to deal with government and regulation since at least 2002.” [Fortune, 1/5/17]
The Wall Street Journal Reported That Sullivan & Cromwell LLP Was A “Key Legal Adviser” For Goldman Sachs. According to The Wall Street Journal, “Mr. Clayton, who met with Mr. Trump on Dec. 22, is a partner at Sullivan & Cromwell LLP, where he also worked on the 2014 initial public offering of Alibaba Group Holding Ltd., according to Sullivan’s website. […] Mr. Clayton represented Goldman when it received a $5 billion investment from billionaire Warren Buffett’s company during the peak of the credit crisis in September 2008, according to his bio on Sullivan’s website. He’s also represented Goldman in connection with other investments and acquisitions, according to the law firm. Sullivan is a key outside legal adviser for Goldman and is more closely associated with Wall Street than perhaps any other law firm.” [Wall Street Journal, 1/3/17]
Clayton’s Wife, Gretchen Butler Clayton, Served As A Wealth Manager For Goldman Sachs. According to Fortune, “Like many of Trump's other nominees and advisor picks, Clayton has a history with Goldman Sachs. He has advised the bank on how to deal with government and regulation since at least 2002. (He is also married to Gretchen Butler Clayton,a Goldman wealth manager of 10 years, as Bloomberg reports.)” [Fortune, 1/5/17]
According To Ethics Lawyers, Gretchen Clayton Would Be Required To Sell Any Goldman Sachs Stock She Owns If Her Husband Jay Were To Be Confirmed As Head Of The SEC. According to Bloomberg, “Clayton, 50, helped represent Goldman in connection with the $10 billion it received in 2008 as part of the government’s $700 billion bailout of banks during the financial crisis. […] His wife, Gretchen, is a wealth manager at Goldman, according to a person with knowledge of the matter. She has worked at the firm since 2000, according to her LinkedIn profile. […] His wife’s job could also present issues, the ethics lawyers said. Because Goldman is overseen by the SEC, Gretchen Clayton would have to sell any stock she owns in the firm.” [Bloomberg, 1/4/17]
Bloomberg Reported That Former Goldman Sachs Partner Steven Mnuchin, Former President Gary Cohn, And Former Employee Stephen Bannon Pushed For Donald Trump To Pick Clayton To Lead The SEC. According to Bloomberg, “Trump will nominate Sullivan & Cromwell partner Jay Clayton to run the Securities and Exchange Commission, the president-elect’s transition team said in a statement Wednesday. […] His picks include former Goldman partner Steven Mnuchin to be Treasury Secretary, former Goldman President Gary Cohn for the top White House economic post and billionaire investor Wilbur Ross to lead the Commerce Department. Mnuchin, Cohn and Stephen Bannon, Trump’s chief strategist, were among those who pushed for Trump to pick Clayton, according to a person with knowledge of the matter who asked not to be named because the discussions were private. Bannon is also a former Goldman employee.” [Bloomberg, 1/4/17]
Clayton Advised Ally Financial On Its $4.2 Billion Sale Of Its European And Latin American Operations To General Motors. According to Sullivan & Cromwell LLP, “Jay Clayton’s practice involves public and private mergers and acquisitions transactions, capital markets offerings, regulatory and enforcement proceedings, and other matters where multidisciplinary advice and experience is valued. […] Representative Engagements[:] M&A/Private Equity[:] […] Ally Financial Inc. in the $4.2 billion sale of its operations in Europe and Latin America to General Motors (GM), as well as in the $4.1 billion sale of its Canadian auto finance business to the Royal Bank of Canada (RBC) and in the sale of its Mexican insurance business (ABA Seguros) to ACE Group” [Sullivan & Cromwell LLP, accessed 1/6/17]
Ally Financial Sold A Number Of Overseas Assets In Order To Repay The U.S. Government For Its Capital Injection Of $17.2 Billion During The Auto Industry’s Financial Crisis. According to The Wall Street Journal, “Mr. Clayton’s clients included many firms that struggled through the financial crisis, including Ally Financial Inc. The auto lender, previously part of General Motors Co., sold several overseas assets to repay the U.S. government, which injected $17.2 billion into Ally as part of the bailout of the auto industry.” [Wall Street Journal, 1/4/17]
In 2014, Clayton And Another Partner At Sullivan And Cromwell Acted As Legal Advisors To Ally Financial During Its Initial Public Offering. According to Fortune, “Goldman Sachs also served as a lead underwriter for Ally Financial's 2014 IPO, alongside Citigroup, Morgan Stanley, and Barclays. Sullivan and Cromwell, represented by Clayton and another partner, acted as a legal advisor to Ally in the deal, and advised the underwriters.” [Fortune, 1/5/17]
Clayton Advised Morgan Stanley On The Sale Of The Company’s Oil-Trading Division. According to The Wall Street Journal, “Mr. Clayton has a wide-ranging corporate practice spanning mergers and acquisitions, IPOs, corporate governance, and investment advice for high-net-worth families. Other matters that Mr. Clayton has worked on include advising Morgan Stanley on the sale of its physical oil-trading division and Bear Stearns on its sale to J.P. Morgan Chase & Co.—two deals shaped heavily by the financial crisis and its aftermath—and the 2014 IPO of Moelis & Co., a boutique advisory firm.” [Wall Street Journal, 1/3/17]
In 2014, Clayton And Another Partner At Sullivan And Cromwell Acted As Legal Advisors To Ally Financial During Its Initial Public Offering. According to Fortune, “Goldman Sachs also served as a lead underwriter for Ally Financial's 2014 IPO, alongside Citigroup, Morgan Stanley, and Barclays. Sullivan and Cromwell, represented by Clayton and another partner, acted as a legal advisor to Ally in the deal, and advised the underwriters.” [Fortune, 1/5/17]
Clayton Represented The Underwriters Of Oaktree Capital Group’s 2012 IPO, Including Morgan Stanley And Goldman Sachs. According to Fortune, “Clayton helped represent a team of underwriters lead [sic] by Morgan Stanley and Goldman Sachs for Oaktree Capital Group's $380 million IPO in 2012.” [Fortune, 1/5/17]
Clayton Served As Legal Counsel To The Underwriters Of Moelis & Co.’s 2014 IPO, Including Morgan Stanley And Goldman Sachs. According to Fortune, “Clayton served as legal counsel to the underwriters of the $190 million 2014 IPO of the investment bank Moelis & Co. That syndicate of underwriters was made up of Goldman Sachs, Morgan Stanley, and Moelis” [Fortune, 1/5/17]
Clayton Represented Bear Stearns In Its Sale To JPMorgan. According to CNN Money, “Clayton is currently a partner at the powerful law firm Sullivan & Cromwell and has advised on a slew of major deals, including the record-breaking Alibaba (BABA, Tech30) IPO and the sale of the NBA's Atlanta Hawks. […] Clayton also has ties to Bear Stearns, which collapsed during the financial crisis as its toxic loan portfolio spiraled out of control. He represented Bear in its fire sale to JPMorgan (JPM).” [CNN Money, 1/4/17]
The Wall Street Journal Reported That Clayton Played A “Key Role” In The Sale Of The Wachovia Corporation To Wells Fargo. According to The Wall Street Journal, “Mr. Clayton also played a key role in other crisis-era matters related to Bear Stearns’s sale to J.P. Morgan Chase & Co., Wachovia Corp.’s sale to Wells Fargo & Co. and troubles facing Lehman Brothers.” [Wall Street Journal, 1/4/17]
Clayton Represented Barclays Capital “In Connection With Its Purchase Of Assets Of Lehman Brothers Out Of Bankruptcy.” According to the Sullivan & Cromwell LLP biography of Jay Clayton, “Representative Engagements[:] M&A/Private Equity[:] Barclays Capital in connection with its purchase of assets of Lehman Brothers out of bankruptcy” [Sullivan & Cromwell LLP, accessed 1/4/17]
The Investment Adviser Association Called Clayton A “Highly Regarded, Respected And Accomplished” Lawyer. According to CNN Money, “The Investment Adviser Association, which represents SEC-registered firms, praised Clayton as a ‘highly regarded, respected and accomplished’ lawyer who has a ‘deep understanding’ of complex transactions and regulations.” [CNN Money, 1/4/17]
The Wall Street Journal Reported That Clayton Had “Spent His Career Working On The Kinds Of Securities Deals That The SEC Has A Hand In Regulating.” According to The Wall Street Journal, “Mr. Clayton appears to have surpassed Ms. Yang, a partner at Gibson Dunn & Crutcher LLP based in Los Angeles, as the most likely candidate to run the SEC, which oversees the $27 trillion U.S. equity market. Mr. Clayton has spent his career working on the kinds of securities deals that the SEC has a hand in regulating.” [Wall Street Journal, 1/3/17]
The Wall Street Journal Reported That Sullivan & Cromwell Was “More Closely Associated With Wall Street Than Perhaps Any Other Law Firm.” According to The Wall Street Journal, “Mr. Clayton, who met with Mr. Trump on Dec. 22, is a partner at Sullivan & Cromwell LLP, where he also worked on the 2014 initial public offering of Alibaba Group Holding Ltd., according to Sullivan’s website. […] He’s also represented Goldman in connection with other investments and acquisitions, according to the law firm. Sullivan is a key outside legal adviser for Goldman and is more closely associated with Wall Street than perhaps any other law firm.” [Wall Street Journal, 1/3/17]