The USS Gerald R. Ford, an aircraft carrier, is seen stationed at Newport News Shipbuilding in Newport News, Va. , in April 2016.
The USS Gerald R. Ford, an aircraft carrier, is seen stationed at Newport News Shipbuilding in Newport News, Va. , in April 2016. | AP Photo

President Donald Trump’s nominee for Navy secretary, Philip Bilden, withdrew from consideration Sunday, becoming the second Pentagon pick unable to untangle his financial investments in the vetting process.

“Mr. Philip Bilden has informed me that he has come to the difficult decision to withdraw from consideration to be secretary of the Navy,” Defense Secretary Jim Mattis said in a statement. “This was a personal decision driven by privacy concerns and significant challenges he faced in separating himself from his business interests.”

Mattis added that he would make a recommendation to the White House for a new nominee “in the coming days.”

Bilden, who built his career in Hong Kong with the investment firm HarbourVest, was a surprise pick for the Navy post but had been Mattis’ preferred candidate.

Yet like billionaire investment banker Vincent Viola, who withdrew his nomination to be secretary of the Army earlier this month, Bilden ran into too many challenges during a review by the Office of Government Ethics to avoid…