Published: Sun, February 05, 2017
Research | By Francis Brooks

Vincent Viola, Trump's Nominee for Secretary of the Army, Withdraws

Vincent Viola, Trump's Nominee for Secretary of the Army, Withdraws

Billionaire Vincent Viola on Friday abruptly withdrew his name for consideration to serve as Secretary of the Army.

Mr Viola made his vast fortune founding Virtu Financial, a high frequency trading firm, before going on to purchase the Florida Panthers ice hockey team.

Viola added that he was "deeply honored to have been considered" and offered his "continued support" for Trump and his administration.

It seemed Viola had a career choice to make: Secretary of the Army or businessman. Mr. Viola is now the Chairman and CEO of Virtu Financial and is one of the nation's foremost leaders in electronic trading.

According to reports, Mr Viola is preparing to sell his majority stake in Eastern Air Lines for a share in Swift Air, a smaller charter airline that has millions in US Government sub-contracts, which could prove hard to track.

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In a statement, Viola expressed support for Trump, but said that he would have been unable to navigate the nomination process.

In an effort to relieve a possible conflict of interest, Trump's nominee for Secretary of the Army Vincent Viola has been negotiating the sale of his airline, according to The New York Times.

The 60-year-old NY native has owned the Panthers since 2015 and graduated from West Point in 1977.

The Panthers reached the playoffs last season in their first year of ownership under Viola, and they are two points out of a playoff spot in the Eastern Conference during the current campaign. His net worth is reported to be more than $1 billion.

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