Hillary Clinton will name Gary Gensler, a former Goldman Sachs partner and financial regulator during the Obama administration, as her campaign's chief financial officer, according to a report published Thursday.
Bloomberg Politics, citing a Democrat familiar with the decision, reported that Gensler was in line for the job.
Gensler, who worked in the Treasury Department during Bill Clinton's presidency, was chosen by Obama to head the Commodity Futures Trading Commission shortly after his election in 2008. The CFTC, as it is commonly known, is an independent agency created by Congress to regulate trading in the commodity futures and option markets. Gensler's five-year term came to an end in January 2014.
During his time at the CFTC, Gensler spearheaded Obama's push for regulation and reform of the derivatives market, which many experts blamed for causing the Great Recession of 2008. According to Bloomberg, Gensler was a leading figure in the drafting and implementation of the Dodd-Frank Act in 2010. He also expanded the CFTC's authority to regulate overseas trading by affiliates of U.S. banks.
Hillary Clinton, who announced her candidacy for the 2016 Democratic nomination Sunday, has faced criticism from liberal members of her party that she is too close to Wall Street, and has tried to strike a populist message in early campaign appearances.
"There is something wrong when hedge fund managers pay lower tax rates than nurses or the truckers that I saw on I-80 as I was driving here over the last two days," Clinton said Tuesday during an appearance in Iowa.