Luke Pettit, architect of Trump Accounts, leaving Treasury for private sector

Mike Allen

Exterior of Treasury Department — The Treasury Department. Photo by Kevin Carte: Getty Images

Luke Pettit, who was instrumental in launching Trump Accounts for children, will leave the Treasury Department for the private sector in October after the next milestone for Trump Accounts, the kickoff of auto-enrollment.

Pettit, who formerly was a senior adviser to Sen. Bill Hagerty (R‐Tenn.), was Assistant Secretary for Financial Institutions and, beginning last year, Acting Under Secretary for Domestic Finance.
Pettit also worked on fast-evolving AI policy as leader of the Office of Cybersecurity and Critical Infrastructure Protection.

Zoom in: A Treasury statement credits Pettit with managing the rollout of Trump Accounts, establishing a low-cost index-fund lineup and working "with financial-sector partners to broaden the program's availability and employer participation."

Pettit also advanced President Trump's "regulatory rightsizing of our banking system, working on negotiations across the bank regulators on Basel III finalization," the statement says.

What they're saying: Treasury Secretary Scott Bessent said in a statement to Axios that Pettit "has served Department of Treasury and the American people with distinction, bringing integrity and strong commitment to our work to strengthen America's financial system. I am grateful for his service and wish him continued success."

Hagerty said his former aide has been "an exceptional leader, a mentor to my staff, and a dedicated public servant. His deep expertise and commitment to the strength of the U.S. financial sector is second to none. Luke drafted and helped usher my GENIUS Act through Congress, which will have a lasting impact on American finance and the economy. I am grateful for his service and wish him every success in his next chapter."

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Luke Pettit, architect of Trump Accounts, leaving Treasury for private sector

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