(Bloomberg)—Jared Kushner, the son-in-law of President-elect Donald Trump, will be named a senior adviser to the president, according to a person familiar with the matter.

Kushner has been working on a plan to step down as chief executive officer of his family’s real estate company to comply with government ethics standards, Jamie Gorelick, a lawyer with WilmerHale, said in an e-mailed statement Saturday.

Kushner will divest “substantial assets” and “recuse from particular matters that would have a direct and predictable effect on his remaining financial interests’’ Gorelick said.

Kushner and his wife Ivanka Trump, currently residents of New York City, have bought a home in Washington. Like Trump, Kushner took his father’s empire of middle-class apartments and parlayed it into investments in Manhattan, before becoming a key player in his father-in-law’s presidential campaign.

The New York Times reported Saturday that Kushner is closing in on a deal to redevelop the Kushner Companies’ flagship office building, at 666 Fifth Avenue in New York, in a joint venture with Anbang Insurance Group Co., a Chinese insurance company with close ties to that country’s government that has been buying up marquee U.S. commercial properties.

To contact the reporters on this story: Jennifer Jacobs in Washington at jjacobs68@bloomberg.net; Caleb Melby in New York at cmelby@bloomberg.net To contact the editors responsible for this story: John Voskuhl at jvoskuhl@bloomberg.net Alex Wayne

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