Brian Brooks, general counsel for Fannie Mae, will be nominated as the Deputy Secretary of the Treasury Department, Axios reported Saturday.

Three sources inside the department confirmed the appointment. Brooks will be expected to play a major role in tax reform and other significant financial policies.

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His appointment comes after Goldman Sachs executive Jim Donovan withdrew his name from consideration from the position.

Brooks worked with Treasury Sec. Mnunchin at OneWest from 2011 to 2014 as the bank’s vice chairman. OneWest was the largest bank in Southern California at the time of the 2008 financial collapse.

Brooks was a managing partner at the law firm O’Melveny and Myers from 1994 to 2011, and moved to Fannie Mae in 2014 where he served as EVP, corporate secretary, and general counsel.