Scaramucci taking White House job before hedge fund sale is final

Hedge Fund

The founder of SkyBridge Capital is set to take over as communications director following months of speculation and false starts about where he would land.

Hedge fund magnate Anthony Scaramucci apparently has finally landed the White House job he has coveted even though the sale of his firm is not yet complete.

The founder of SkyBridge Capital is set to take over as communications director following months of speculation and false starts about where he would land. However, his ties to the firm remain.

A SkyBridge spokesman told CNBC that the sale was set to close June 30 but has not due to unspecified delays. The spokesman said, "Things can move more slowly than anticipated sometimes in Washington."

Scaramucci has long been on the administration's personnel radar. In the early days of the Trump presidency, Scaramucci was considered for the Office of the Public Liaison, a job that eventually went to Omarosa Manigault. He is currently chief strategy officer and vice president at the Export-Import Bank.

In early June, when Scaramucci was reported to be tapped as ambassador to the Organization for Economic Cooperation and Development, the spokesman told CNBC the transaction was going through a "customary closing process" and would be finalized by June 30, the end of the second quarter.

Scaramucci sold his stake back in January when it seemed he was a lock for an administration post. However, questions arose about the motivation of the buyer — a consortium of Chinese investment firms with government ties — that delayed his appointment.

SkyBridge manages $11.4 billion for clients; the company was valued at $200 million, according to the Wall Street Journal. It is not clear how much of an ownership he holds in the firm.

Scaramucci has been a loyal supporter of President Donald Trump , working on the president's transition committee and defending him publicly in media appearances. He is well known on Wall Street and had been the organizer of the SkyBridge Alternatives, or SALT, conference held each year in Las Vegas for thousands of financial professionals. The conference features celebrities and political notables.

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts