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(Reuters) – President Donald J. Trump’s nominee for Treasury secretary, Scott Bessent, plans to divest himself of several funds, trusts and investments to prepare for his new role, The New York Times (NYSE:) reported on Saturday.
In a letter to the Treasury Department’s ethics office, the chief financial officer outlined the steps he would take to “avoid any real or perceived conflict of interest in my assurance for of the position of Secretary of the Department of Finance,” report. added.
He also said he would close Key Square Capital Management, the investment firm he founded, and resign from the Besent-Freeman Family Foundation and Rockefeller University, where he was chairman of the investment committee, the Times said.
A spokesman for Besent declined to comment.
Trump appointed Bessent on Nov 23. Reuters has not yet seen the document cited by the Times, but before reporting that a source said that if he were to take over in the new administration, Key Square could be destroyed, sold or entered “sleep mode.”
On Friday, Trump repeated the financial arrangements he made during his first term, giving him day-to-day control of his multibillion-dollar real estate, hotel, golf, media and licensing operations. to his children when he entered the White House.
