Haoxiang Zhu has left the SEC after three years as director of the trading and markets division.
He is returning to a previous role as Gordon Y. Billard professor of management and finance and associate professor of finance at MIT’s Sloan School of Management, where he spent almost a decade before joining the regulator in 2021 under SEC chair Gary Gensler.
Deputy director David Saltiel, also head of the division’s analytics and research office, has been named as acting director.
The news follows Gensler’s announcement that he will be leaving the commission as of January 2025.
READ MORE: Gensler confirmed to depart SEC
During his time with the SEC, Zhu oversaw the modernisation of US securities market regulation. Projects in this initiative included the expansion of central clearing for Treasury repurchase and cash transactions, the US transition to T+1 and increasing transparency for securities lending, short selling and security-based swaps.
On this work, Gensler commented: “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.”
Earlier in his career, Zhu spent more than seven years at the National Bureau of Economic Research as a research associate and faculty research fellow.
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