US President Barack Obama plans to nominate Sharon Bowen to replace Bart Chilton as a member of the Commodities and Futures Trading Commission (CFTC), according to a statement issued by the administration.
Bowen, a securities lawyer at Latham & Watkins and a Democrat, must be confirmed by the Senate before joining the regulator.
CFTC Chairman Gary Gensler will step down at the end of the year when his term expires. Timothy Massad, the Treasury Department official nominated to succeed Gensler, has yet to have a confirmation hearing in the Senate. Jill Sommers left the Commission in July and her proposed replacement, J. Christopher Giancarlo, also has still has yet to be approved by the senate.
Chilton, who had planned to depart by year-end, has said he may stay longer.
“I’ve been asked by several lawmakers to assist in the transition,” Chilton said earlier this month. “To the extent circumstances allow me to stick around, I’m pleased to do so.”
Bowen is a partner representing clients including corporations and buyout firms in the New York office of Latham & Watkins, according to a biography on the law firm’s website. She holds a legal degree from the Northwestern University School of Law in Chicago.