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Trump nominates Virtu Financial chairman as Army secretary

President-elect Donald Trump has nominated Virtu Financial Inc. Chairman and founder Vincent Viola to serve as secretary of the Army.

The nomination is subject to Senate confirmation.

If Viola is confirmed to serve in the role, CEO Douglas Cifu will take over as Virtu's executive chairman. The company also said that its majority shareholder TJMT Holdings LLC will not divest its holdings because of the nomination.