David Nolan, a now-retired Millennium Management executive who gave to Trump in 2016 and 2018, and may again this year, has theories on why like-minded financiers are less vocal.

“It’s dangerous if you run a business, any company that deals with the public, or a Wall Street firm, because the left gets very touchy about anyone disagreeing with them,” Nolan said, pointing to the recent dustup when the head of Goya Foods Inc. praised Trump’s leadership. “They’re less likely to be public with their support of Trump and politics in general.”

Wife’s Reaction
Indeed such tensions can even arise at home.

When a Bloomberg reporter attempted to call a Morgan Stanley executive and tried to leave a message, his wife said she didn’t know about his contributions, asked for details and then needed a moment to catch her breath. “I am not a Trump fan,” she monotoned. Her husband later texted to say he couldn’t talk.

Gary Alexander, a longtime Wells Fargo & Co. financial adviser who recently retired, said he didn’t mean to give to Trump in the first place. A client invited him to attend a breakfast in 2016 that turned out to be a fundraiser, which left Alexander listed as a donor. He isn’t sure how he will cast his vote this year.

“I won’t vote for President Trump,” he said. “I already know that.”

It’s possible, of course, that some are disillusioned. The tepid financial support for Trump comes as national polls show Biden leading the president by more than 6 percentage points, according to the RealClearPolitics average.

New Yorkers have expressed frustration with Trump’s handling of the viral pandemic that hit the city especially hard. Polls show dissatisfaction with his reaction to racial unrest. And he’s ratcheted up tensions with China, a market some financial executives are looking to as a source of future profits.

Then there is Trump’s governance style: While his tweets and spontaneous policy announcements often spur trading, they can complicate long-term business planning.

Voices across the industry had openly predicted the politically untested reality TV star would pivot to a more traditionally presidential persona as soon as he took office and surrounded himself with advisers. In early 2017, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon publicly praised the “very serious people” joining Trump’s orbit, such as former Goldman Sachs Group Inc. executive Gary Cohn.