WASHINGTON, Dec. 19 (UPI) -- Businessman Vincent Viola was nominated as President-elect Donald Trump's Secretary of the Army, the Trump transition team announced Monday.
With an estimated fortune of $1.8 billion, Viola, 59, is ranked 374th on Forbes magazine's list of the 400 wealthiest Americans. A West Point graduate and former Army Ranger, he is the former chairman of the New York Mercantile Exchange, the founder of the electronic trading firm Virtu Financial and owner of the National Hockey League's Florida Panthers team.
"Whether it is his distinguished military service or highly impressive track record in the world of business, Vinnie has proved throughout his life that he knows how to be a leader and deliver major results in the face of any challenge," Trump said in a statement. It added that Viola, the son of Italian immigrants, is "living proof of the American dream."
The Secretary of the Army oversees the U.S. Army and reports to the Secretary of Defense. Trump has chosen retired Marine Corps Gen. James Mattis as his defense secretary. Although not a cabinet-level position, Viola's nomination requires confirmation by the U.S. Senate.