The Commodities Futures Trading Commission (CFTC) announced the appointment of Bruce Tuckman as its chief economist.
US Commodity Futures Trading Commission Chairman J. Christopher Giancarlo today appointed Bruce Tuckman, an internationally-recognized economist and expert in modern derivatives markets, as the agency’s Chief Economist. In addition, Chairman Giancarlo also appointed former Chief Economist Sayee Srinivasan as Special Advisor in the Chairman’s Office.
“It is with great pleasure that I welcome Bruce to the Commission,” said Chairman Giancarlo. “He brings a wealth of experience and expertise from both an academic and an industry perspective, which will serve us well as we continue to navigate the way we balance derivative market regulation with market health, vibrancy and economic growth.”
Tuckman, who takes office September 5, comes to the CFTC with an impressive resume. He is a summa cum laude Harvard graduate with a degree in statistics and economics. He also holds a PhD in economics from MIT, and he was most recent employed as Clinical Professor of Finance at New York University’s Stern School of Business.
Of his work at New York University, the CFTC said the following:
His recent writings have focused on financial markets policy, including the role of derivatives during the crisis and the post-crisis regulation of derivatives. His leading textbook on fixed income markets is now in its third edition.
Prior to his professorship, Tuckman worked for more than two decades in the trading industry, holding leadership and management positions in the prime services and fixed income divisions of Barclays Capital and Lehman Brothers. His career in the financial industry began at Salomon Brothers.
Commenting on his appointment, Tuckman said:
Chairman Giancarlo has set out a compelling vision of increasingly guiding CFTC rule-making and risk monitoring with cutting-edge economic analysis and empirical work. I look forward to working with the accomplished economists in this office to realize this vision.
Tuckman’s succeeds Sayee Srinivasan, who was appointed Chief Economist in 2013, and about whom the CFTC statement said:
Under his leadership, OCE has helped design, finalize and implement multiple Dodd-Frank rules, and continued the tradition of informative economic research into the U.S. futures and swaps markets. Srinivasan led CFTC in the Joint Staff Report on the October 15th, 2014 flash event in the US Treasury Markets.
Prior to his position at the CFTC Srinivasan served at exchanges around the world with stints at: the Bombay Stock Exchange, National Stock Exchange of India, and the Chicago Mercantile Exchange. He also worked at OptiMark Technologies, a fintech company based out of Colorado.