Bessent to Wind Down Hedge Fund If Confirmed at Treasury (1)

Scott Bessent, President-elect Donald Trump’s pick to run the US Treasury Department, will resign from Key Square Group and divest underlying assets to avoid conflicts of interest if confirmed by the Senate.

The resignation would immediately follow his confirmation as Treasury secretary, according to a document released by the US Office of Government Ethics. He’d wind down his interest in Key Square Group, the macro hedge fund he founded and led, within 90 days after winning Senate approval.

High-ranking government officials are required to disclose their holdings and plans to divest those that may pose conflicts prior to ...