Senate Confirms Ben Black to Lead US Development Lender

The US Senate confirmed Ben Black to lead the International Development Finance Corp., placing the son of billionaire Leon Black at the helm of a lending agency that has become central to several of President Donald Trump’s major initiatives.

Black has made it clear he wants to connect Wall Street with the obscure federal agency he’s preparing to lead, and has explored opening an office in New York City, which would put it closer to the workers it’s seeking to hire as well as the investors it plans to attract.

Ben Black

Photographer: Lauren Justice/Bloomberg

The $60 billion government agency makes loans and investments ...