New York City Mayor Zohran Mamdani tapped former Biden-era Federal Trade Commission Chairwoman Lina Khan as the next board chairwoman of the city’s Economic Development Corporation on Wednesday.

Mamdani’s appointment of the staunch antitrust advocate represents a significant leadership change for the corporation overseeing economic growth in New York City’s business community. In a city that has long been a bastion of capitalist economic growth and financial markets, Khan’s sea-change appointment to the EDC’s board of directors comes as Mamdani also tapped the Wall Street-favored Tony Shorris of McKinsey & Company as the EDC’s President and CEO.