It is less than four weeks since Donald Trump ran an attack ad on Hillary Clinton, using an image of Goldman Sachs chief Lloyd Blankfein to illustrate how the Democratic candidate favoured big business over small people.

But since winning the presidential election, Mr Trump has turned to Goldman veteran after Goldman veteran. Stephen Bannon, appointed head of strategy, was a former M&A banker at the Wall Street bank; Steven Mnuchin, Mr Trump’s pick for Treasury secretary, had 17 years in various roles. Gary Cohn, Goldman’s president and chief operating officer, could complete a hat-trick of appointments if he caps a 25-year career at the bank with a move into government. Mr Cohn had a lengthy meeting with Mr Trump on Tuesday afternoon.

So far at least, “it’s not been a swamp-draining exercise,” said Doug Landy, a partner at US law firm Milbank.