Gary Gensler
| Gary Gensler | |
 | |
| Basic facts | |
| Organization: | Securities and Exchange Commission |
| Role: | Chair |
| Affiliation: | Democratic |
| Education: | The Wharton School, University of Pennsylvania |
Gary Gensler is the chair of the Securities and Exchange Commission in the Biden administration. The Senate confirmed him on April 20, 2021, by a vote of 54-45, for a term ending on June 5, 2026.[1]
Gensler was the chairman of the Commodity Futures Trading Commission. He served during the Obama administration from 2009 to 2014. He was an undersecretary of domestic finance and assistant secretary of financial markets during the Clinton administration.[2][3]
Biography
Gensler received his bachelor's degree in economics and MBA from The Wharton School at the University of Pennsylvania. He worked at Goldman Sachs from 1979 to 1997, where he became a partner in the Mergers & Acquisition department and led the firm’s Media Group.[2] He was the assistant secretary of financial markets in the Clinton administration from 1997 to 1999, before becoming the undersecretary of domestic finance from 1999 to 2001. Gensler was also a senior adviser to Sen. Paul Sarbanes (D-Md.) on the corporate responsibility-focused Sarbanes-Oxley Act.[3]
Gensler was the chairman of the Commodity Futures Trading Commission from 2009 to 2014 during the Obama administration. He later served as the chairman of the Maryland Financial Consumer Protection Commission from 2017 to 2019.[2]
Gensler was also an advisor for several Democratic presidential campaigns, including the campaigns of Barack Obama and Hillary Clinton.[2]
Nomination for chairman of the Securities and Exchange Commission
- See also: Joe Biden presidential transition
President Joe Biden (D) announced that he had selected Gensler as his nominee for chairman of the Securities and Exchange Commission on January 18, 2021. The New York Times described Gensler as a "veteran regulator who played a central role in bringing the big banks to heel in the aftermath of the 2008 financial crisis, giving new teeth to a watchdog agency. Lately, as an academic, he has been schooling himself on digital currencies like Bitcoin that have become an important part of the S.E.C.’s regulatory mandate."[4]
The Senate confirmed him on April 20, 2021, by a vote of 54-45, for a term ending on June 5, 2026.[1]
External links
Footnotes
- ↑ 1.0 1.1 Senate.gov, " On the Nomination (Confirmation: Gary Gensler, of Maryland, to be a Member of the Securities and Exchange Commission)," April 20, 2021
- ↑ 2.0 2.1 2.2 2.3 MIT Sloan School of Management, "Gary Gensler," accessed November 17, 2020
- ↑ 3.0 3.1 U.S. House, "Biographic Sketch of Chairman Gary Gensler," accessed November 17, 2020
- ↑ The New York Times, "Gary Gensler Is Picked to Lead S.E.C.," January 17, 2021