The Senate voted 51-47 Wednesday to confirm John Hurley, President Trump’s nominee to serve as undersecretary for terrorism and financial intelligence at the Treasury Department.

Hurley is the managing partner at Cavalry Asset Management and managing member for TGK Ventures, and he has been a long-time lecturer in finance at the Stanford Graduate School of Business.

Treasury Secretary Scott Bessent and Senate Banking Committee Chair Tim Scott (R-S.C.) applauded the confirmation.

“I am thrilled to have John on the team as Treasury’s under secretary for Terrorism and Financial Intelligence,” Bessent said in a statement. “John’s extensive private sector experience, military service and previous service on President Trump’s Intelligence Advisory Board make him uniquely qualified to serve the American people in this very important role.”

Scott said Hurley would help the administration fight money laundering and terrorist financing.

“The Office of Terrorism and Financial Intelligence is one of our government’s most important national security and intelligence arms, and I’m confident John Hurley will work diligently to protect the integrity of our markets and hold malign foreign actors accountable,” Scott said in a statement.

Hurley also serves on the board of governors of the Middle East Institute, the board of overseers of the Hoover Institution and the board of trustees of the American Enterprise Institute.

He graduated with honors from Princeton where he served as chair of the Daily Princetonian, the campus newspaper.

Sens. Bill Hagerty (R-Tenn.) and Katie Britt (R-Ala.), two other members of the Senate Banking Committee, also praised Hurley.

“In an age of increased competition and escalating geopolitical tension, Under Secretary Hurley’s experience will be pivotal in advancing U.S. foreign policy objectives and protecting our economic system from abuse by bad actors,” Hagerty said.

Britt said she looks forward to working with Hurley on “our aligned priority of returning to a maximum pressure sanctions regime — to cut off terrorist financing networks and advance U.S. national security.”