Indianapolis businessman Jim Wallace has ended his longshot bid for the Republican nomination for governor after being denied a spot on the ballot.
The Wallace campaign on Thursday posted a statement from Wallace saying he was suspending his campaign less than a week after the Indiana Election Commission voted to remove his name from May primary ballot because he fell 14 signatures short of the required number in one congressional district.
Wallace says it's clear that further efforts to get on the ballot would jeopardize a timely election. He was the only GOP challenger to U.S. Rep. Mike Pence for the nomination.
Wallace runs Indianapolis-based TWG Capital, which provides loans to insurance agents.
A West Point and Harvard University graduate, he worked at Anthem Blue Cross & Blue Shield as vice president of strategy in the early 1990s and as chief of staff at Conseco Health in the late 1990s before founding TWG.