Timothy Massad will be stepping down from his post with the US Treasury later this
year, furthering speculation that he is in-line to become the next chairman of the
Commodity Futures Trading Commission (CFTC).
New York Times reports have linked Massad, currently assistant secretary for
financial stability at the Treasury, to the role which could be vacated by Gary Gensler
before the year’s end.
The process fell under a cloud in July when front-runner Amanda Renteria withdrew
her candidacy, with Gensler also reportedly not interested in staying on for a further
Massad was a key figure in the US government’s financial rescue efforts during the
financial crisis, prior to which he was a partner at New York-based Cravath, Swaine &
Moore for 17 years.