A hedge-fund manager who was Treasury Secretary Timothy Geithner’s choice to run the office overseeing the $700 billion bank bailout program withdrew his name from consideration.

Frank Brosens, a founding partner of Taconic Capital Advisors, confirmed in an e-mail he is no longer in the running for the job, which requires Senate confirmation.

The position is currently held by Neel Kashkari, a holdover from the Bush administration.

Geithner is having difficulty filling vacancies and is President Barack Obama’s only confirmed appointment at the department as the administration grapples with the biggest financial crisis since the Great Depression.