SEC chair Gary Gensler to step down on 20 January
The Securities and Exchange Commission (SEC) has announced that its current chair, Gary Gensler, will step down from his role at noon on 20 January 2025.
Gary Gensler is set to leave the SEC on 20 January
Gensler was appointed as chair of the agency by President Biden in 2021.
The SEC says that Gensler “led the agency through a robust rulemaking agenda to enhance efficiency, resiliency, and integrity in the US capital markets”, and also oversaw “high-impact enforcement cases to hold wrongdoers accountable and return billions to harmed investors”.
Gensler is also credited with driving changes in corporate governance, accounting, and auditing practices.
Speaking on his decision to step down, Gensler says: “I thank President Biden for entrusting me with this incredible responsibility. The SEC has met our mission and enforced the law without fear or favour.”
Gensler’s departure date coincides with President-elect Donald Trump’s inauguration. It is common for commission heads to step down with the arrival of a new administration, while Trump had also previously stated his intention to “fire” Gensler on “day one”.
Prior to joining the SEC, Gensler taught global economics and management at MIT Sloan and held positions on various government financial boards.
Earlier in his career, he held leadership roles at Goldman Sachs, eventually rising to co-head of finance, where he oversaw the firm’s global treasury operations.
