US Senate confirms billionaire businessman Stephens as ambassador to Britain

FILE PHOTO: The U.S. Embassy stands in Nine Elms in London, Britain May 1, 2018. REUTERS/Simon Dawson/File Photo

Source: REUTERS

The U.S. Senate on Tuesday confirmed billionaire investment banker Warren Stephens to be ambassador to Britain, backing President Donald Trump's nominee by 59 to 39.

Stephens is chairman, president, and CEO of Stephens Inc., a privately owned financial services firm headquartered in Little Rock, Arkansas. He is a longtime contributor to Republican candidates, including Trump, having donated millions of dollars to support his campaigns and 2025 inauguration fund.

U.S. presidents often name major donors to the prestigious post in London. During Trump's first term in the White House, Woody Johnson, the owner of the New York Jets National Football League team, held the post.

Stephens will represent the United States in London as Prime Minister Keir Starmer's government seeks to reset ties with the European Union after Brexit, when Britain left the EU in 2020, following Trump's upending of security and trade alliances.

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Starmer's government is also seeking an improved economic deal with Washington to lower some of the tariffs Trump has imposed on imported goods.

This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters