Billionaire investor Paulson says he will not be US Treasury Secretary

(Reuters) -Billionaire investor John Paulson, a leading candidate for the role of U.S. Treasury Secretary under President-elect Donald Trump, said on Tuesday his “complex financial obligations” will prevent him from holding an office in the new administration.

Paulson and fellow investor Scott Bessent had emerged as the frontrunners for the crucial role, which has a vast influence over economic, regulatory and international affairs.

“I intend to remain actively involved with the President’s economic team and helping in the implementation of President Trump’s outstanding policy proposals,” Paulson said in a statement.