President Donald Trump's nominee for secretary of the Army, billionaire Wall Street trader Vincent Viola, withdrew from consideration Friday night, CNN reported.
In a statement, Viola expressed support for Trump, but said that he would have been unable to navigate the nomination process.
Defense Secretary James Mattis would have worked above him if he was confirmed.
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For months a year ago , it was a primary factor in the committee leaving rates unchanged. There was some speculation of better commentary on business investment.
Vincent Viola, a billionaire U.S. veteran and Wall Street trader, accepted Mr Trump's offer to run his former armed service in December, but changed his mind following a report on his dealings.
According to the Military Times, Viola found it too hard to disentangle himself from his many businesses in order to take the government position.
Viola is the founder and chairman of electronic trading firm Virtu Financial and a majority owner of Eastern Air Lines and the Florida Panthers hockey team.
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Former U.N. chief Ban Ki-moon speaks during a press conference at the National Assembly in Seoul on February 1, 2017. Prosecutors said Park, South Korea's first woman president, had a major role in the alleged corruption.
In a statement to the Military Times, Viola said he was "deeply honored" by the nomination, despite it not panning out. Mr. Viola is now the Chairman and CEO of Virtu Financial and is one of the nation's foremost leaders in electronic trading. He is also an Army veteran and a philanthropist, funding various Army charities as well as the Combating Terrorism Center at West Point, his alma mater.
Viola, who served in the 101st Airborne Division and then served for the U.S. Army Reserve after his active duty, is a graduate of New York Law School, the Associated Press reports. The White House officials did not give a reason for the move.
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Tributes have poured in for the star, with United States director Mel Brooks described him as creating "cinematic immortality". The Bafta-winning star, known for his roles in Alien and The Elephant Man , had been treated for pancreatic cancer in 2015.