President-elect Donald Trump announced Wednesday that billionaire investor Carl Icahn will serve as his special adviser on issues relating to regulatory reform.

“He is not only a brilliant negotiator, but also someone who is innately able to predict the future especially having to do with finances and economies,” Trump said in a statement.

“His help on the strangling regulations that our country is faced with will be invaluable.”

According to the release, Icahn will be advising Trump “in his individual capacity and will not be serving as a federal employee or a Special Government Employee and will not have any specific duties.”

Icahn has been a strong supporter of Trump since the moment he announced he run for office, and he said he is “proud” to have been named for this position.

“Under President Obama, America’s business owners have been crippled by over $1 trillion in new regulations and over 750 billion hours dealing with paperwork,” Icahn said in a statement released by the Trump transition team. “It’s time to break free of excessive regulation and let our entrepreneurs do what they do best: create jobs and support communities.”

Democrats were quick to show opposition to Trump’s decision. DNC spokesman Eric Walker, called the appointment a “quid-pro-quo 25 years in the making” since Trump and Icahn have a long history of business dealings.

“The corrupt nature of this arrangement cannot be understated. Voters who wanted Trump to drain the swamp just got another face full of mud,” Walker says.