FILE PHOTO: Businessman Vincent Viola enters Trump Tower in Manhattan, New York City, U.S., December 16, 2016. REUTERS/Andrew Kelly/File Photo

WASHINGTON (Reuters) - Vincent Viola, an Army veteran and founder of a high-speed trading firm nominated by U.S. President Donald Trump to be secretary of the Army, withdrew his name from consideration on Friday, a U.S. official said.

“Secretary Mattis is disappointed but understands and respects Mr. Viola’s decision,” a Pentagon statement said, adding that Secretary of Defense Jim Mattis would recommend another candidate soon.

The Military Times, which first reported the news, cited Viola’s inability to get around Defense Department rules concerning his family businesses as the reason for withdrawing his name.

Viola is a former chairman of the New York Mercantile Exchange and is a leader in electronic trading. Along with Virtu CEO Douglas Cifu, he bought the Florida Panthers of the National Hockey League in 2013.</s>WASHINGTON -- President Trump's nominee to lead the Army abruptly withdrew his name from consideration late Friday night, citing his inability to get around strict Defense Department rules concerning his family businesses.



Vincent Viola, founder of digital stock trading firm Virtu Financial and owner of the National Hockey League's Florida Panthers, had been working through the confirmation process to become Army secretary since mid-December.



In a statement, Viola said he was "deeply honored" to be nominated for the post, but concluded that he would not be able to successfully navigate the confirmation process.



"I appreciate the confidence President Trump showed in me," he said. "I offer my continued support for President Trump and his administration, and look forward to redoubling my efforts to support the Army and its veterans as private citizens."



Sources familiar said Viola had been looking for ways to divest from his businesses -- including ownership of the hockey team -- to take the top civilian Army post.



He had planned to transfer ownership to other family members but turn over operations responsibilities to the team's vice chairman, but that arrangement did not meet Pentagon requirements, according to sources.



The surprise announcement leaves another hole in Trump's Pentagon leadership team. While Defense Secretary James Mattis was confirmed by the Senate just hours after Trump was inaugurated, dozens of other key civilian military posts remain vacant or manned by temporary appointees.



Trump has nominated Heather Wilson to take over as Air Force secretary and Philip Bilden to become Navy secretary, but confirmation hearings have not been announced for either role.



Currently, Robert Speer is serving as acting Army secretary, a step up from his previous post as assistant secretary for financial management at the service.



</s>President Donald Trump's nominee for Army secretary, businessman Vincent Viola, has withdrawn his name from consideration for the post.The official spoke on condition of anonymity because the official wasn't authorized to speak publicly.The Military Times reported that Viola said in a statement he was "deeply honored" to be nominated but cited his inability to successfully navigate the confirmation process and Defense Department rules concerning family businesses.Viola was the founder of several businesses, including the electronic trading firm Virtu Financial. He also owns the National Hockey League's Florida Panthers and is a past chairman of the New York Mercantile Exchange.A 1977 West Point graduate, Viola trained as an Airborne Ranger infantry officer and served in the 101st Airborne Division. In 2003, he founded and helped fund the Combating Terrorism Center at West Point.</s>Feb. 4 (UPI) — President Donald Trump‘s nominee for Army Secretary has withdrawn from consideration due to difficulties divesting himself from his businesses.

Vincent Viola, the billionaire founder of digital stock trading firm Virtu Financial and owner of the National Hockey League’s Florida Panthers, withdrew on Friday stating he was unable to navigate the Defense Department’s confirmation process, according to the Military Times.

“I 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 redoubling my efforts to support the Army and its veterans as private citizens.”

Viola said he was “deeply honored” to have been nominated, but his plans to transfer ownership and operations of his businesses and the hockey team did not meet Pentagon requirements.

Viola graduated from West Point, where he helped found the Combating Terrorism Center, and attained the rank of major in the army reserve. He also formerly served as chairman of the New York Mercantile Exchange.

Defense Secretary Jim Mattis said he was disappointed by Viola’s withdrawal but “understands and respects Mr. Viola’s decision” Pentagon spokesman, Navy Capt. Jeff Davis, said according to the Washington Post. Davis also said Mattis is “confident that Mr. Viola will remain a stalwart supporter of America’s soldiers” and will recommend a new nominee soon.</s>President Donald Trump’s nominee for Army secretary, businessman Vincent Viola, has withdrawn his name from consideration for the post. Defense Secretary Jim Mattis was disappointed but understood and respected Viola’s decision, a Pentagon statement said. Mattis will recommend to Trump another candidate soon, the statement said. A Trump administration official confirmed Friday night that Viola had withdrawn. The official spoke on condition of anonymity because the official wasn’t authorized to speak publicly.

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The Military Times reported that Viola said in a statement he was “deeply honored” to be nominated but cited his inability to successfully navigate the confirmation process and Defense Department rules concerning family businesses.

Viola was the founder of several businesses, including the electronic trading firm Virtu Financial. He also owns the National Hockey League’s Florida Panthers and is a past chairman of the New York Mercantile Exchange.

A 1977 West Point graduate, Viola trained as an Airborne Ranger infantry officer and served in the 101st Airborne Division. In 2003, he founded and helped fund the Combating Terrorism Center at West Point.</s>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."

ABC News' Alexander Mallin and Luis Martinez contributed to this report.</s>Vincent Viola, the billionaire owner of the Florida Panthers and President Trump's nominee for secretary of the Army, withdrew his nomination Friday night citing difficulties in divesting himself from his businesses.

A Pentagon spokesman, Navy Capt. Jeff Davis, said Defense Secretary James Mattis is "disappointed but understands and respects Mr. Viola's decision" and believes Viola "will remain a stalwart supporter of America's soldiers." Mattis, Davis added, "will recommend to the president another candidate soon."

Viola, a former West Point graduate who bought the NHL club in 2013, reportedly pulled his name from consideration after believing that his business ties would prove too great to navigate around the confirmation process. Viola's decision to withdraw from the nomination was first reported by The Military Times.

In a statement released to The Military Times, Viola said he was “deeply honored” by Trump's confidence to consider him for the post, adding, "I offer my continued support for President Trump and his administration, and look forward to redoubling my efforts to support the Army and its veterans as private citizens.”

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 reported. Viola has long been involved with philanthropic projects and is a former winner of the Ellis Island Medal of Honor, the Associated Press added.

During the time of his nomination, Trump described Viola as "an incredibly accomplished and selfless individual" saying that Viola's "distinguished military service" and "highly impressive track record in the world of business" were qualities that made him stand out.</s>President Donald Trump's pick for secretary of the Army has withdrawn from consideration, White House officials confirmed Friday.

Vincent Viola is West Point graduate and billionaire businessman who founded Virtu Financial Inc. and is owner of the Florida Panthers NHL franchise.

He is the first nominee to drop out before consideration. The White House officials did not give a reason for the move.

Viola's decision was first reported by the Military Times, which said the move was partly due to strict Defense Department rules concerning business ties. The news organization said Viola said in a statement he was "deeply honored" to have been nominated.</s>Vincent Viola, an infantry veteran and founder of a high-speed trading firm nominated by Donald Trump to be secretary of the Army, has withdrawn his name from consideration.



A Pentagon statement said defence secretary James Mattis was “disappointed but understands and respects” Viola’s decision,” adding that it would make another recommendation soon.

The Military Times, which first reported the news, cited Viola’s inability to get around defense department rules concerning his family businesses as the reason for withdrawing his name.

Viola is a former chairman of the New York Mercantile Exchange and is a leader in electronic trading. Along with Virtu chief executive Douglas Cifu, he bought the Florida Panthers of the National Hockey League in 2013.</s>WASHINGTON — President Donald Trump’s nominee for secretary of the Army, Vincent Viola, is withdrawing, citing trouble disengaging with his business ties.

“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 statement from Viola’s team on Friday evening said.

“I am deeply honored to have been considered for this post, and appreciate the confidence President Trump showed in me,” Viola said. “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.”

Viola is a billionaire from New York who owns the Florida Panthers, a hockey team. He graduated from West Point and served in the 101st Airborne, becoming a soldier in the US Army Reserve after his active duty. He founded several companies, including one high-frequency trading firm, where he earned his billions.

Were he to go through the confirmation process, his finances would have been subject to Senate scrutiny and disclosure requirements.

Viola is one of a handful of billionaires Trump has nominated to serve in his administration who have faced intense pressure over potential conflicts of interest. Trump himself has received similar scrutiny and criticism, although as president, he does not face the kind of disclosure rules as Senate-confirmable positions.

If confirmed by the Senate, Viola would have served as Army secretary under Defense Secretary James Mattis.

CNN has reported that Mattis was unhappy with Trump’s choice of Viola, with several sources saying before last month’s inauguration that Trump made the selection without consulting Mattis. One source said Mattis was so angry, he threatened to quit if Trump made more Pentagon appointments without consulting him.

Sean Spicer, now the White House press secretary, disputed such reports at the time, saying on Twitter there was a “great transition” underway at the Defense Department.

Two sources said Mattis preferred Michele Flournoy for Army secretary. She previously served in the Obama administration’s Department of Defense.

In a statement, Capt. Jeff Davis, a Pentagon spokesperson, said Mattis 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,” avis said. “The Secretary will recommend to the President another candidate soon.”
West Point graduate, billionaire businessman, and philanthropist Vincent Viola withdraws his name from consideration as Secretary of the Army because of Defense Department rules concerning his family businesses.