President-elect Donald Trump is expected to name investor Wilbur Ross as his pick for commerce secretary, two senior-level Trump transition sources tell ABC News.
Ross, 78, is a billionaire who has made a fortune restructuring failed companies in the manufacturing and steel industries, among others.
He counts himself among Trump's early supporters in the business community, having endorsed him back in March. Ross went on to serve as an economic adviser for Trump through the campaign.
Ross most recently visited with Trump this past Sunday at his resort in Bedminster, NJ.
In a brief exchange with reporters, Trump gestured to Ross saying, "Commerce Secretary, that's what we're looking for."