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(Reuters) – President-elect Donald J. Trump Treasury Secretary Scott Besant plans to divest from several funds, trusts and investments to prepare for his new role. New York Times (NYSE: ) reported on Saturday.
In a letter to the Treasury’s ethics office, the money manager outlined steps he would take to “avoid any actual or apparent conflict of interest if confirmed as Treasury secretary.” Added.
He said he will close the investment firm he founded, Key Square Capital Management, and resign from his roles as chairman of the investment committee of the Bessant-Freeman Family Foundation and Rockefeller University, the Times reported.
A spokeswoman for Besant declined to comment.
Trump appointed Besant on November 23. Reuters has not seen the document cited by the Times, but as previously reported, if the source takes a job in the new administration, Key Square may be damaged, sold or enter “sleep mode.”
On Friday, Trump repeated the financial arrangements he made during his first term in office, handing over his multibillion-dollar real estate, hotel, golf, media and licensing portfolio to his children when he moved into the White House.
