Viola pulls out as Army secretary nominee

Vincent "Vinnie" Viola, nominated last December by President Trump to become the Army's next top civilian, has withdrawn himself from consideration, according to news reports.

The New York Times reported late Friday that Viola chose to withdraw because of the difficulty of divesting himself from his business interests.

Viola, a 1977 graduate of the U.S. Military Academy at West Point, is the founder and executive chairman of Virtu Financial. He served in the 101st Airborne Division, and became a member of the Army Reserve following his active service, reaching the rank of major. He earned a law degree from New York Law School in 1983.

A former trader on the New York Mercantile Exchange, Viola served as its chairman from 2001 to 2004.

Viola is the majority owner of the Florida Panthers of the National Hockey League, and previously held a minority stake in the National Basketball Association's New Jersey Nets.