Apollo’s Mr. Fix-It Is Now Trump’s Pick to Police Wall Street

His résumé is formidable: Power lawyer, Washington regulator, Wall Street whisperer.

It was that Jay Clayton who stepped into the fray when Leon Black’s entanglement with Jeffrey Epstein set off a bare-knuckled power struggle atop Apollo Global Management Inc. The veteran lawyer was called on to restore peace, mend fractures and steer the mighty investing house back to normalcy.

Now he has to do it all over again at another prized New York institution.

Clayton is in line for one of the hottest seats in American law as the top prosecutor for the Southern District of New York, the de facto sheriff ...