Veteran investor John Paulson said in a statement to the Wall Street Journal that he is withdrawing from his candidacy to run for US President-elect Donald Trump's Treasury secretary. "Although I have been mentioned in various media outlets as a candidate for Treasury secretary, my complex financial responsibilities make it impossible for me to serve in a formal role in President Trump's administration at this time," Paulson said in the statement. "However, I intend to remain actively involved in the president's economic team and help implement President Trump's excellent policy recommendations." Paulson has been an ardent supporter of Trump for years and is one of the next Treasury secretary candidates Trump is considering, according to people familiar with the matter. His decision to exclude himself from consideration essentially cleared the way for fellow investor Scott Bessant to take the job, and Mr. Hagerty, the Republican senator from Tennessee, was also seen as a contender, according to media reports.