President-elect Donald Trump announced Monday that he would appoint Goldman Sachs President Gary D. Cohn as the president’s chief economic adviser and director of the National Economic Council.

Mr. Trump said that Mr. Cohn would be able to put his renowned business know-how to work for the American people.

“He will help craft economic policies that will grow wages for our workers, stop the exodus of jobs overseas and create many great new opportunities for Americans who have been struggling,” Mr. Trump said in a statement. “He fully understands the economy and will use all of his vast knowledge and experience to make sure the American people start winning again.”

The appointment was expected to draw criticism for adding another wealthy businessman and another Wall Street mogul to Mr. Trump’s inner circle.

Mr. Cohn, who currently serves as president and chief operating officer at the Wall Street powerhouse, said it was a “great honor” to be selected for a post in the Trump administration.

“I share President-elect Trump’s vision of making sure every American worker has a secure place in a thriving economy, and we will be completely committed to building a nation of strength, growth and prosperity,” he said in a statement provided by the Trump transition team.

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