Frank Brosens, a founding partner at hedge fund concern Taconic Capital Advisors, has withdrawn his nomination as overseer of the $700 billion bank bailout program.
Brosens had been nominated by Treasury Secretary Tim Geithner to run the office charged with monitoring the Troubled Assets Relief Program.
No reason was given for his sudden withdrawal. The post requires Senate confirmation.
The position is currently held by Bush administration holdover Neel Kashkari. The administration is working to fill a number of open slots at Treasury.
Earlier this week, President Obama nominated Neal Wolin to be deputy secretary of the Treasury and Lael Brainard to be the department’s undersecretary for international affairs.
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