Biden to name Gary Gensler as SEC Chairman: reports

Biden to name Gary Gensler as SEC Chairman: reports

President-elect Joe Biden will nominate former Chairman of the Commodity Futures Trading Commission Gary Gensler to be chairman of the Securities and Exchange Commission, according to reports in Reuters and Bloomberg.

Gensler, a professor at the MIT Sloan School of Management, headed the CFTC from 2009 to 2014, where he helped implement the Dodd-Frank financial reform bill passed in the wake of the financial crisis, and served in the Clinton administration’s Treasury Department from 1997 to 2001. Prior to his work in government, he was a mergers and acquisitions banker at Goldman Sachs Group Inc.

Gensler is a rare Wall Street alum who has the support of progressive groups for his aggressive regulation of derivatives markets during his tenure at the CFTC.

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