Donald Trump will nominate billionaire investment banker Warren Stephens to be his ambassador to the UK, elevating a campaign donor from Arkansas to one of the most sought-after positions in the US diplomatic service.
Stephens, the chair and chief executive of Stephens Inc, an investment bank based in Little Rock, Arkansas, will need to be confirmed by the US Senate next year.
Stephens gave $3mn to the Make America Great Again political action committee that backed Trump in the election. The highly coveted UK ambassadorship is often used as a prize for wealthy donors to presidential campaigns.
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