Here's who's in the running to replace Preet Bharara, the 'Sheriff of Wall Street'

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President Trump created waves when he fired Preet Bharara, US attorney for the Southern District of New York, over the weekend.

While it's customary for presidents to replace the previous administration's political appointees – which US attorneys are – Bharara's firing came as a surprise to many, because Trump had asked him to stay on when they initially spoke.

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FILE PHOTO: U.S. Attorney for the Southern District of New York Preet Bharara speaks during a Reuters Newsmaker event in New York City, U.S., July 13, 2016. REUTERS/Brendan McDermid/File photo
NEW YORK, NY - JUNE 20: Preet Bharara, United States Attorney for the Southern District of New York, speaks during a press conference announcing corruption charges against members the New York City Police Department, at the U.S. Attorney's Office, Southern District of New York, June 20, 2016 in New York City. Early Monday morning, three members of the New York City Police Department and a businessman, who is a top fundraiser for New York City Mayor Bill de Blasio, were arrested on federal corruption charges including the exchange of lavish gifts for favors. (Photo by Drew Angerer/Getty Images)
NEW YORK, NY - JUNE 20: Preet Bharara, United States Attorney for the Southern District of New York, gestures at a chart during a press conference announcing corruption charges against members the New York City Police Department, at the U.S. Attorney's Office, Southern District of New York, June 20, 2016 in New York City. Early Monday morning, three members of the New York City Police Department and a businessman, who is a top fundraiser for New York City Mayor Bill de Blasio, were arrested on federal corruption charges including the exchange of lavish gifts for favors. (Photo by Drew Angerer/Getty Images)
US Attorney Southern District of New York Preet Bharara speaks at the Wall Street Journal CEO council annual meeting in Washington on November 15, 2016. / AFP / YURI GRIPAS (Photo credit should read YURI GRIPAS/AFP/Getty Images)
NEW YORK, NY - NOVEMBER 30: Preet Bharara, the top federal prosecutor in Manhattan, arrives at Trump Tower on November 30, 2016 in New York City. President-elect Donald Trump and his transition team are in the process of filling cabinet and other high level positions for the new administration. (Photo by Spencer Platt/Getty Images)
NEW YORK, NY - NOVEMBER 17: Preet Bharara, U.S. attorney for the Southern District of New York, speaks at a news conference where it was announced that two former pharmaceutical executives are facing federal criminal charges over a fraud and kickback scheme on November 17, 2016 in New York City. Former Philidor Rx Services CEO Andrew Davenport and former Valeant executive Gary Tanner were charged Thursday with wire fraud, money laundering and other charges in which prosecutors say they made millions of dollars illegally. (Photo by Spencer Platt/Getty Images)
Preet Bharara, U.S. attorney for the Southern District of New York, speaks during a press conference in New York, U.S., on Wednesday, Dec. 21, 2016. A former portfolio manager who was responsible for investing more than $53 billion in New York State employee retirement funds took more than $100,000 in bribes in exchange for steering more than $2 billion in pension business to two brokers, earning them and their firms millions of dollars in commissions, authorities said on Wednesday. Photographer: Peter Foley/Bloomberg via Getty Images
Preet Bharara, U.S. attorney for the Southern District of New York, speaks during a press conference in New York, U.S., on Wednesday, Dec. 21, 2016. A former portfolio manager who was responsible for investing more than $53 billion in New York State employee retirement funds took more than $100,000 in bribes in exchange for steering more than $2 billion in pension business to two brokers, earning them and their firms millions of dollars in commissions, authorities said on Wednesday. Photographer: Peter Foley/Bloomberg via Getty Images
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The timing of Bharara's dismissal was also characterized as somewhat abrupt, because the Trump administration had not yet named a replacement for him.

While the president has still not nominated Bharara's successor, two frontrunners have emerged.

Marc L. Mukasey

Marc Mukasey currently serves as the Global Co-Chair of Greenberg Traurig's White-Collar Defense and Special Investigations Practice. He has experience working as a former prosecutor for New York's Southern District, and he is the son of Michael B. Mukasey, the attorney general during the Bush administration.

Mukasey is also former Fox News chairman Roger Ailes' attorney and represented him when Ailes faced multiple allegations of sexual harassment toward female employees at Fox News. Ailes later resigned from his position as the allegations gained nationwide coverage.

Bharara, at the time of his firing, was in the midst of an investigation into Fox News relating to its business practices when it was led by Ailes. Trump fired Bharara on the heels of a segment during which Fox News host Sean Hannity advocated for a "purge" of all Obama-appointed Justice Department officials.

Edward O'Callaghan

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O'Callaghan assisted the Trump transition team and is currently a partner specializing in white-collar defense at Clifford Chance. He also worked as a federal prosecutor and co-chief of the terrorism and national security unit at the US attorney's office in New York before resigning in 2008 to work on Sen. John McCain's presidential campaign.

While working on McCain's campaign, O'Callaghan became part of what the campaign called a "truth squad," formed to provide legal cover and pushback against ethics charges brought against then-vice presidential candidate Sarah Palin. At the time, he spearheaded an effort to quash the pre-election investigation – which became known as "Troopergate" – into Palin when she was governor of Alaska.

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SEE ALSO: Donald Trump just fired Preet Bharara — here's a look at the Sheriff of Wall Street's most high-profile cases

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