Gary Cohn, the former president of Goldman Sachs, has launched a $600m blank cheque company, making him the latest high-profile Wall Street executive to enter the Spac craze that is sweeping the US financial sector.

Cohn, who quit the US banking giant in 2017 to join President Donald Trump's administration as an economic adviser, has unveiled a so-called "special purpose acquisition vehicle" – or Spac – according to a prospectus filed with the Securities and Exchange Commission on Friday.