Zhu departs SEC as Trading and Markets Division Director
10 December 2024 US
Image: LinkedIn/Haoxiang_Zhu
Haoxiang Zhu departs the Â鶹´«Ã½ and Exchange Commission (SEC) as director of the Division of Trading and Markets to resume his career in education.
Upon his departure, David Saltiel, a deputy director who also heads the division’s Office of Analytics and Research, will serve as acting director.
During his tenure, the SEC undertook several initiatives to modernise the regulation of US securities markets, including the expansion of central clearing for Treasury repurchase and cash transactions, the implementation of T+1, the update of existing regulation for broker-dealers, as well as the adoption of new rules for securities lending, short selling, and security-based swaps.
Besides rulemaking, Zhu also led the division’s efforts in the day-to-day oversight of exchanges, alternative trading systems, broker-dealers, the Financial Industry Regulatory Authority (FINRA), clearing agencies, and other market participants.
He joined the SEC in December 2021 after serving as a research associate at the National Bureau of Economic Research (NBER) for more than seven years.
SEC Chair Gary Gensler expressed his gratitude to Zhu for his leadership for the past three years, saying: “In that time, we’ve worked to bring central clearing to the Treasury market, comprehensively update the national market system rules for the first time in nearly two decades, and shorten the settlement cycle.
“Investors and issuers will benefit because of these reforms achieved during Haoxiang’s time of service. I wish him very well in his next steps. I also want to thank David for stepping into this leadership role and for his invaluable counsel.â€
In his leaving speech, Zhu thanked Gensler, other commissioners, and the division’s staff, adding: “I encourage everyone to consider public service at some point in their professional career if you haven’t done it already. The sense of purpose and pride and the knowledge that you’ve done your best for the American public are the ultimate rewards.â€
After three years at the SEC, Zhu returns to the MIT Sloan School of Management as the Gordon Y. Billard professor of management and finance and associate professor of finance — a position he held before joining the SEC.
Upon his departure, David Saltiel, a deputy director who also heads the division’s Office of Analytics and Research, will serve as acting director.
During his tenure, the SEC undertook several initiatives to modernise the regulation of US securities markets, including the expansion of central clearing for Treasury repurchase and cash transactions, the implementation of T+1, the update of existing regulation for broker-dealers, as well as the adoption of new rules for securities lending, short selling, and security-based swaps.
Besides rulemaking, Zhu also led the division’s efforts in the day-to-day oversight of exchanges, alternative trading systems, broker-dealers, the Financial Industry Regulatory Authority (FINRA), clearing agencies, and other market participants.
He joined the SEC in December 2021 after serving as a research associate at the National Bureau of Economic Research (NBER) for more than seven years.
SEC Chair Gary Gensler expressed his gratitude to Zhu for his leadership for the past three years, saying: “In that time, we’ve worked to bring central clearing to the Treasury market, comprehensively update the national market system rules for the first time in nearly two decades, and shorten the settlement cycle.
“Investors and issuers will benefit because of these reforms achieved during Haoxiang’s time of service. I wish him very well in his next steps. I also want to thank David for stepping into this leadership role and for his invaluable counsel.â€
In his leaving speech, Zhu thanked Gensler, other commissioners, and the division’s staff, adding: “I encourage everyone to consider public service at some point in their professional career if you haven’t done it already. The sense of purpose and pride and the knowledge that you’ve done your best for the American public are the ultimate rewards.â€
After three years at the SEC, Zhu returns to the MIT Sloan School of Management as the Gordon Y. Billard professor of management and finance and associate professor of finance — a position he held before joining the SEC.
← Previous people moves article
State Street adds Al Hassoun as Country Head for Saudi Arabia and Bahrain
State Street adds Al Hassoun as Country Head for Saudi Arabia and Bahrain
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Â鶹´«Ã½ Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Â鶹´«Ã½ Finance Times