Scott Bessent: Navigating Ethical Waters in Treasury Appointment

Investor Scott Bessent, chosen by President-elect Donald Trump as potential Treasury Secretary, plans to divest his interests, including the closure of Key Square Capital Management, to prevent conflicts of interest. His commitment to ethical governance aligns with Trump's approach to personal business management while in office.

Scott Bessent, the investor selected by President-elect Donald Trump as a potential Treasury Secretary, has announced plans to divest from his Key Square Group hedge fund and other investments.

In a letter to the Treasury Department's ethics office, Bessent detailed his steps to "avoid any actual or apparent conflict of interest" should he be confirmed in the role. The seasoned money manager, chosen on November 23, also stated he would resign from his post at Bessent-Freeman Family Foundation.

According to the New York Times, Bessent also intends to shut down Key Square Capital Management, a firm he founded, in line with his divestment strategy. Trump's financial arrangements for his business empire during his presidency were also reiterated, highlighting a continued commitment to ethical governance.

(With inputs from agencies.)