Warren Stephens, a billionaire investment banker, has been announced as the new US ambassador to the UK.
Donald Trump made the announcement on his Truth Social platform, describing Mr Stephens as as “one of the most successful businessmen in the country”. He also described the UK as one of America’s “most cherished and beloved Allies”.
He wrote: “I am pleased to announce that Warren A Stephens, one of the most successful businessmen in the country, has been nominated to serve as the United States Ambassador to the Court of St James’s, a role in which he will act as our representative to the United Kingdom.
“Over the last 38 years, while serving as the president, chairman, and CEO of his company, Stephens Inc, Warren has built a wonderful financial services firm, while selflessly giving back to his community as a philanthropist.
“Warren has always dreamed of serving the United States full time. I am thrilled that he will now have that opportunity as the top diplomat, representing the USA to one of America’s most cherished and beloved allies.”
Here is everything we know about the new ambassador to the UK.
Who is Warren Stephens?
Warren Stephens, 67, has had a long career in investment banking. He is also a Republican donor who previously campaigned against Mr Trump, then changed his mind and backed him financially during the election campaign after first favouring Nikki Haley.
He is the chair, president and chief executive of financial services firm Stephens Inc, based in Little Rock, Arkansas, which had been run by his father before him.
He graduated from Washington and Lee University with a degree in economics. He then joined the family business alongside his father and uncle. One of the firm’s significant investments is in the Walmart drug store chain.
What has been Warren Stephens’ political career?
He has no political or diplomatic experience but is an important donor to the Republican Party, both in this campaign and in previous ones.
In 2016, when Donald Trump first ran for president, Stephens donated $4m (£3.1 million) to political groups that fought to stop him becoming the nominee. In 2024 he gave $2m to a political action committee that supported former UN Ambassador Nikki Haley as she unsuccessfully ran for the Republican nomination.
But when Donald Trump won the race to be the Republican candidate, he threw his support behind him in the hopes of a Republican win.
What will his role be?
Stephens is set to replace Jane Hartley who was appointed by the outgoing president, Joe Biden. He is set to take over the job after Mr Trump’s inauguration in January. The Senate is required to confirm the choice.
During his campaign, Mr Trump vowed to rework the US’s relationships abroad, promising to put “America first” when it came to trade and foreign policy.
The role of US ambassador to the UK is one of the most coveted of diplomatic positions, and presidents have in the past also bestowed the role on prominent backers.
