Timothy Massad

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Timothy Massad
Timothy Massad.jpg
Occupation Chairman
Employer CFTC
Location Washington, DC

Timothy Massad was the chairman of the Commodity Futures Trading Commission (CFTC). He was confirmed to the position on June 3, 2014, replacing Gary Gensler, who stepped down in early January.[1] Massad stepped down as CFTC chairman on January 20, 2017, at the end of the Obama administration.[2]

He was previously the Department of the Treasury's assistant secretary for financial stability. In that role, Massad was responsible for overseeing the implementation and wind down of the Troubled Asset Relief Program (TARP).[3] He began the position in September 2010 after the departure of TARP head Herb Allison, but was not confirmed until June 2011.[4]

Background

Massad was chief counsel for the Troubled Asset Relief Program at the Treasury Department from 2009 to 2010. Prior to that, he was an adviser for the Congressional Oversight Panel, which oversaw TARP from December 2008 to February 2009. [5] Before joining Treasury, Massad was a law partner at Cravath, Swaine & Moore LLP in New York, specializing in corporate finance and international transactions. He previously ran Cravath's Hong Kong office from 1998-2002, and also worked in its London office.

On October 4, 2013, a Treasury official said Massad would be stepping down as assistant secretary for financial stability, and would be leaving the department "soon." The announcement came as rumors circulated that Massad was the leading candidate to head the Commodity Futures Trading Commission, to replace outgoing chairman Gary Gensler, whose term ended on January 3, 2014.[6] On November 12, President Obama announced the nomination of Massad as CFTC chairman.[7]

On April 8, 2014, the Senate Agriculture Committee voted to approve Massad's nomination as CFTC Chairman. The nomination will next be voted on by the full Senate.[8]

Education

Massad holds a B.A. from Harvard College and a J.D. from Harvard Law School.

Video

On November 12, 2013, President Obama announced his intent to nominate Timothy Massad to lead the Commodity Futures Trading Commission.

References

  1. Massad Is Confirmed as Chairman of Futures Commission. The New York Times.
  2. CFTC Chairman Timothy Massad to Step Down Jan. 20. The Wall Street Journal.
  3. Timothy Massad. Department of the Treasury.
  4. Tim Massad. Washington Post.
  5. Biographical Data for Massad,. ABC news.
  6. Treasury Official Massad to Step Down. Wall Street Journal.
  7. Obama to nominate Timothy Massad for CFTC chairman. Washington Post.
  8. Senate panel approves Massad to head CFTC. Miami Herald.