Stephen Feinberg. File Photo: www.cerberus.com

President-elect Donald Trump said on Sunday (December 22, 2024) he would nominate billionaire investor Stephen Feinberg to serve as Deputy Secretary of Defense.

Mr. Feinberg is the co-chief executive of Cerberus Capital Management LP, a private equity firm that has invested in defense contractors. He served on an intelligence advisory board during Trump’s 2017-2021 White House term.

Mr. Feinberg would serve as the No. 2 official at the Pentagon under Trump’s choice for Defense Secretary, Pete Hegseth, a former Fox News host who faces questions about allegations of alcohol abuse and sexual misconduct. Hegseth has denied any wrongdoing.

Trump also nominated Elbridge Colby to serve as undersecretary of defense for policy, the No. 3 position at the Pentagon. Colby, known as a China hawk, served as a senior Pentagon official during Trump’s first term.