Strategas Securities co-founder Jason De Sena Trennert is no longer in the running to become Treasury assistant secretary for financial markets, due to a newly discovered health issue, according to a statement to clients seen by Bloomberg News.
President Donald Trump had intended to nominate Trennert for the job, a Treasury statement said last month. In his note to clients Tuesday, the investment strategist said, "In the process of preparing for this next chapter of my life, I discovered that I have a health issue that would make such a move inadvisable at this time."
Trennert said he plans to stay on in his current role at Strategas and he would likely consult with Treasury Secretary Scott Bessent "from time to time." Bessent
Trennert would have required Senate confirmation had he proceeded with the Treasury job. A Treasury spokesperson wasn't immediately available to comment.
Brian Smith is listed as acting assistant secretary for financial markets on the Treasury's website.
New York-based Strategas is the market strategy division of Baird, which acquired it in 2018, according to its
