Gary Gensler

Gensler was appointed Senior Advisor to the Director of the MIT Media Lab and Senior Lecturer, MIT Sloan School of Management in January 2018.

After the passage of the Dodd-Frank Act, Gensler led the CFTC's effort to write the rules required to regulate the swaps markets. He oversaw the agency as it wrote 68 new rules, orders and guidances and as its reach extended from a $35 trillion futures market to a $400 trillion swaps market. He restructured the agency and re-committed the agency to a robust enforcement program. He focused on garnering consensus among his Democratic and Republican colleagues on the Commission, securing unanimous votes to approve more than 70 percent of the agency's rulemakings. By the time Gensler left the CFTC in January 2014, the agency was near completion of the rule-writing process to implement the Dodd-Frank Act.

For his work to reform the financial regulatory system, The Institute for the Fiduciary Standard awarded Gensler with the 2014 Tamar Frankel Fiduciary Prize.

By the spring of 2010, the momentum in Congress was toward Gensler's vision for derivatives oversight, and Congress passed comprehensive reform as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act in July 2010.

While serving as chairman of the CFTC, Gensler led the transformation of the $400 trillion over-the-counter derivatives, or swaps, market which failed, while reorganizing the watchdog efforts of the 700-person agency. Gensler led the effort to pass and implement comprehensive oversight of the swaps market, which was at the center of the 2008 financial crisis.

Then-President-Elect Barack Obama nominated Gensler to serve as the 11th Chairman of the CFTC on December 18, 2008. Though there was some opposition to Gensler's nomination amongst the progressive members of the Democratic caucus, Gensler was overwhelmingly approved by the U.S. Senate in an 88-6 confirmation vote. Gensler was sworn in on May 26, 2009, pledging to work to "urgently close the gaps in our laws to bring much-needed transparency and regulation to the over-the-counter derivatives market to lower risks, strengthen market integrity and protect investors." According to Gensler, "[o]nly through strong, intelligent regulation – coupled with aggressive enforcement mechanisms – can we fully protect the American people and keep our economy strong."

During Gensler's tenure at the CFTC, he worked closely with the Obama Administration, United States Congress and other regulators to transform the $400 trillion financial derivatives markets that were at the center of the 2008 financial crisis. Upon becoming chairman, Gensler immediately began leading the Obama Administration's effort "to start policing the Wild West of finance: the murky market for over-the-counter derivatives." When the Treasury Department released draft legislation to bring regulatory oversight to the swaps market, Gensler sent a letter to Congress arguing that the proposal did not go far enough.

Gensler has been active in Democratic politics, having served as treasurer of the Maryland Democratic Party for two years, and holding several senior roles on the Maryland campaigns of U.S. Senator Barbara Mikulski, former Lt. Gov. Kathleen Kennedy Townsend, and Gov. Martin O'Malley. During the 2008 presidential campaign cycle, Gensler served as a senior advisor to Hillary Clinton's presidential campaign and later advised the Obama campaign. In May 2015, Gensler was named chief financial officer of her campaign for the Democratic nomination.

Gensler served on the board of for-profit university Strayer Education, Inc. from 2001 to 2009.

After leaving the Clinton Administration in 2001, Gensler joined the staff of U.S. Senator Paul Sarbanes, Chairman of the Senate Banking Committee, as a senior advisor and helped write the Sarbanes-Oxley law to tighten accounting standards in the wake of the Enron and WorldCom scandals. Sen. Sarbanes described Gensler as "a very good strategic advisor," who "is very gifted at putting politics and substance together."

Gensler served in the United States Department of the Treasury as Assistant Secretary for Financial Institutions from 1997-1999, then as Undersecretary for Domestic Finance from 1999-2001. As Assistant Secretary, Gensler served as a senior advisor to the Secretary of the Treasury in developing and implementing the federal government's policies for debt management and the sale of U.S. government securities. In 1999 and 2000, under then-Treasury Secretary Lawrence Summers, Gensler fought for passage of the Commodity Futures Modernization Act, which exempted over-the-counter derivatives from regulation.

Gensler lives in Baltimore with his three daughters, Anna, Lee and Isabel. Gensler was married to filmmaker and honored photo collagist Francesca Danieli from 1986 until her death from breast cancer in 2006.

After earning an MBA, Gensler joined the Wall Street investment bank Goldman Sachs, where he spent 18 years working up the ranks. At 30, Gensler became one of the youngest persons to have made partner at the firm at the time. He spent the 1980s working as a top mergers and acquisitions banker, having assumed responsibility for Goldman's efforts in advising media companies. He subsequently made the transition to trading and finance in Tokyo, where he directed the firm's Fixed Income and Currency trading.

Gensler attended Pikesville Senior High School, graduating in 1975. His alma mater later invited Gensler to return to Pikesville, where he was awarded with the Distinguished Alumnus Award, to share his thoughts on leadership, where he encouraged the students to pursue their passions, make opportunities and seize them, find mentors, and find a good partner.

Gary G. Gensler (born October 18, 1957) served as the 11th chairman of the Commodity Futures Trading Commission under President Barack Obama from May 26, 2009, to January 3, 2014. Gensler was the Under Secretary of the Treasury for Domestic Finance (1999-2001), and the Assistant Secretary of the Treasury for Financial Markets (1997-1999). Prior to his public service career, Gensler worked at Goldman Sachs, where his last position was that of Co-head of Finance. He was the chief financial officer for Hillary Clinton's presidential campaign.