Gary Gensler, the current chair of the Securities and Exchange Commission (SEC), is likely out of a job soon. Reports suggest President-elect Trump will replace him before his term ends in 2026.
Gensler’s Departure
While no official resignation date has been announced, whispers in Washington suggest Gensler might announce his departure sometime after Thanksgiving, with a planned exit in early January. It’s a common practice for SEC chairs to step down when a new president takes office.
Potential Replacements
Several names are circulating as potential replacements for Gensler. These include:
- Dan Gallagher (Robinhood’s chief legal officer)
- Bob Stebbins (lawyer)
- Paul Atkins (former SEC Commissioner)
- Heath Tarbert (former CFTC Chair)
- Brian Brooks (former Acting Comptroller of the Currency)
- Norm Champ (former SEC Investment Management Director)
A former SEC official noted that this type of turnover is typical when a new administration comes in. Chairs often resign knowing a replacement is on the way.
