President-elect Donald Trump has selected Scott Bessent as his potential Treasury secretary. To address concerns over potential conflicts of interest, Bessent plans to divest from his hedge fund Key Square Group and other investments. He will also resign from the Bessent-Freeman Family Foundation and shut down his investment firm, Key Square Capital Management. The move comes ahead of a Senate Finance Committee hearing on January 16 where Bessent’s nomination will be reviewed.
Source: https://www.cnbc.com/2025/01/12/trump-treasury-pick-bessent-to-divest-assets-to-avoid-conflicts.html