William J. Rainer

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William Rainer
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Occupation Chairman of the Board
Employer Dow 30 Premium & Dividend Income Fund Inc.

William J. Rainer is a former regulator and an industry executive. He currently serves as chairman of the board of Dow 30 Premium & Dividend Income Fund Inc.[1]

He was previously the chairman of Defined Strategy Fund Inc., a diversified closed-end management investment company that went out of business in 2009.[2] [3] He also serves on the international advisory board of Madrid-based IE Business School.[4]

He is a former chairman of the Commodity Futures Trading Commission (CFTC) and former chairman of the single-stock futures exchange OneChicago.[5][6] He also co-founded Greenwich Capital Markets, Inc., a primary dealer of government securities.


Background[edit]

Rainer was recruited in 2001 to lead Chicago financial markets' venture OneChicago LLC into the trading of single-stock futures. He resigned from the position in 2004, stating that he was leaving to spend more time on family-owned enterprises. OneChicago was authorized by a 2000 rewrite of federal securities laws that included input from Rainer during his stint as chairman of the CFTC.[7]

Rainer was sworn in as a commissioner and the eighth chairman of the CFTC on Aug. 11, 1999. Rainer was nominated by President Bill Clinton on June 23, 1999 and confirmed by the Senate on Aug. 5, 1999 to serve a term expiring Apr. 13, 2004. It was reported that Arkansas native Rainer slept in the Lincoln Bedroom at least once during the Clinton presidency, and his friendship with the Commander in Chief harked back to their Arkansas days.[8]

In 1981, Rainer co-founded Greenwich Capital Markets, Inc., now a part of RBS. From 1981 to 1987, he served as managing director of the firm. From 1988 until he joined the CFTC, Rainer was a private investor. From 1994 until its privatization in 1998, Rainer was chairman of the United States Enrichment Corporation, a government-owned company set up to sell the nation’s uranium stockpile.[9]

From 1971 to 1981, Rainer worked on numerous assignments for Kidder, Peabody & Co., Inc. His positions included: managing director, Kidder, Peabody Securities, Ltd. (London); manager, corporate bond trading; and director, fixed income marketing.

After being part of minor league baseball, Rainer played professional baseball for the Los Angeles Dodgers' organization. He bats left and throws left.[10]

Rainer's nonprofit activities have included serving as trustee, Southern Methodist University; executive board member, the Fletcher School, Tufts University; and member of the board, Thomas J. Dodd Research Center. He joined the Dean's Council of the Harvard Divinity School in 2004 and served as its chairman from 2005 until 2013.[11]

Education[edit]

Rainer received B.A. and MBA degrees from Southern Methodist University (SMU). While attending SMU on a full athletic scholarship, he played both basketball and baseball.

References[edit]

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