The Securities and Exchange Commission (SEC) has sworn in Gary Gensler as its new chair, following his nomination by President Joseph Biden.
Gensler has held a number of public sector positions, including chair of the US Commodity Futures Trading Commission, and under secretary of the Treasury for Domestic Finance, as well as spending a four year stint as assistant secretary of the Treasury.
In the private sector, he has worked as a partner at Goldman Sachs’ M&A department, also acting as co-head of finance at the group.
Upon his appointment, Gensler thanked acting chair Allison Herren Lee “for her leadership the last few months”.
He added: “I feel incredibly privileged to join the SEC’s team of remarkable public servants.
“As chair, every day I will be animated by our mission: protecting investors, facilitating capital formation, and promoting fair, orderly, and efficient markets.”
Following Gensler’s appointment, the SEC announced the additions of four senior staff members.
Prashant Yerramalli will continue to act as chief of staff, while Heather Slavkin Corzo will act as policy director.
Moreover, Kevin Burris has been named as counselor to the chair and director of the office of legislative and intergovernmental affairs, with Scott Schneider appointed counselor to the chair and director of the office of public affairs.