President-elect Donald Trump has nominated Warren Stephens, CEO of Arkansas-based Stephens Inc, as the new US ambassador to the United Kingdom.

The move appoints Stephens, a significant donor to Trump's re-election campaign, to oversee the 'special relationship' between the two nations, characterized by strong military, intelligence, and cultural bonds.

The ambassador position is highly sought after, often awarded to prominent supporters, such as Woody Johnson and Louis Susman, who held the role under Trump and Obama, respectively.

Despite initially opposing Trump in 2016, Stephens has recently aligned with his policies, donating significantly to Republican causes.

Trump praised Stephens for realizing his dream of dedicated service to the USA, while Stephens expressed his honor at the nomination, emphasizing his commitment to enhancing US-UK relations.

Apart from his business ventures, Stephens and his wife are known for their philanthropy through the Harriet and Warren Stephens Family Foundation, supporting various cultural and educational initiatives.