CFTC names Tuckman new chief economist, promotes Srinivasan to special advisor

The U.S. Commodity Futures Trading Commission (CFTC) recently appointed Bruce Tuckman as its chief economist and named former chief economist Sayee Srinivasan as special advisor in the CFTC’s chairman’s office.

Tuckman will begin leading the Office of the Chief Economist (OCE) on Sept. 5. OCE provides economic advice to the commission and conducts research on policy issues. Also, the office also plays an integral role in the implementation of new financial market regulations by providing economic expertise and cost-benefit considerations underlying those regulations.

“It is with great pleasure that I welcome Bruce to the commission,” CFTC Chairman J. Christopher Giancarlo said. “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 joins the CFTC from New York University’s Stern School of Business, where he was a clinical professor of finance. 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 textbook on fixed income markets is now in its third edition. Before that, Tuckman held leadership and management positions in the fixed income divisions of Barclays Capital and Lehman Brothers. He also worked at Salomon Brothers.

He is a summa cum laude graduate of Harvard College with an A.B. in statistics and economics. He holds a Ph.D. in economics from the Massachusetts Institute of Technology.

“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 said.

Tuckman replaces Srinivasan, who was promoted to special adviser to Giancarlo’s office.

“I am also pleased that Sayee Srinivasan will continue to serve the commission advising my office. Sayee will bring back to the chairman’s office a capacity for quantitative data and market analysis that has historically been the hallmark of data-driven policy making and principles-based derivatives market regulation at the CFTC.”

Srinivasan has been CFTC’s chief economist since December 2013. Under his leadership, Srinivasan helped design, finalize and implement multiple Dodd-Frank rules. Prior to joining CFTC in January 2012, Srinivasan worked in market and product development roles for Bombay Stock Exchange and National Stock Exchange of India, Chicago Mercantile Exchange, and OptiMark Technologies. He has a Bachelor’s degree in Commerce and an MBA from University of Bombay, and a masters and Ph.D. in economics from the University of Texas at Austin.

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