New York City Mayor Bill de Blasio is appointing a Wall Street ally to an important economic post in his administration.
De Blasio is a Democrat with a populist agenda. He did not gain much support from the city's bankers during his mayoral bid.
But on Thursday he named Michael Schlein to become chairman of the Economic Development Corporation.
That agency is a nonprofit arm of City Hall that negotiates with large corporations on issues like real estate.
Schlein was a senior executive at Citigroup before leaving for Accion, a microfinance firm that funds projects in poor countries.
De Blasio and Schlein were both aides to former Mayor David Dinkins.
Schlein's post is unpaid. The appointment was first reported by The New York Times.