Vincent Viola Withdraws From Secretary of Army Nomination, Citing Business Ties
The billionaire Wall Street trader cited his business ties, in dropping out.
— -- President Donald Trump's nominee for secretary of the Army, billionaire Wall Street trader Vincent Viola, announced Friday that he is withdrawing his name from consideration for the position, citing business ties.
The Department of Defense said Defense Secretary Jim Mattis "will recommend to the president another candidate soon."
"Mr. Viola has informed President Trump that he will be unable to accept his nomination to serve as Secretary of the Army as the challenges of separating Mr. Viola from the organizations that he has built over the last thirty-five years have proven insurmountable," a spokesman for Viola told ABC News.
Viola, a West Point graduate and U.S. Army veteran, is the founder of Virtu Financial and former chair of the New York Mercantile Exchange. He also owns the Florida Panthers hockey team, as well as a majority stake in Eastern Air Lines.
"I am deeply honored to have been considered for this post, and appreciate the confidence President Trump showed in me," Viola said in a statement. "I offer my continued support for President Trump and his administration, and look forward to re-doubling my efforts to support the Army and its veterans as a private citizen."
A Department of Defense spokesman said in a statement that Defense Secretary Mattis, who is currently in Japan, "is disappointed but understands and respects Mr. Viola's decision. The Secretary is confident that Mr. Viola will remain a stalwart supporter of America's soldiers."
When Trump announced in December his plans to nominate Viola, he said at the time, "I am proud to have such an incredibly accomplished and selfless individual as Vincent Viola as our Secretary of the Army. Whether it is his distinguished military service or highly impressive track record in the world of business, Vinnie has proved throughout his life that he knows how to be a leader and deliver major results in the face of any challenge."
The position of Army secretary requires Senate confirmation.
ABC News' Alexander Mallin and Luis Martinez contributed to this report.