WASHINGTON, DC – President Obama announced Thursday his intent to nominate Chris Brummer, C. Boyden Gray Fellow on Global Finance and Growth for the Atlantic Council’s Global Business and Economics Program and Project Director and Founder of the Atlantic Council’s Transatlantic Finance Initiative, as a Commissioner on the Commodity Futures Trading Commission (CFTC).
According to The Wall Street Journal, the Senate Agriculture Committee is expected to take up his nomination in the coming weeks or months. Brummer would replace Mark Wetjen, who left the commission last year. Since Wetjen’s departure, the commission has been functioning with only three members. President Obama also announced his intent Thursday to nominate Brian Quintez, formerly a senior policy aide to former Rep. Deborah Price (R., Ohio), to the CFTC; if confirmed, the two nominations would allow the commission to operate with its full complement of five members.
Said Frederick Kempe, President and CEO of the Atlantic Council, “Chris has been instrumental to the Council’s work on global finance and his insights on transatlantic derivatives and financial markets, as well as on China’s currency, have been uniformly lauded at a time when thoughtful analysis and rigor have been much needed. I am confident that he will be a tremendous asset to the CFCT’s crucial regulatory work.”
“Chris Brummer is a very talented nominee – one committed to the transatlantic alliance, market integrity, and the needs of investors and real world end-users of financial services. He will do great work for the CFTC,” said Ambassador C. Boyden Gray, Vice Chair of the Atlantic Council’s Board of Directors.
Brummer leads the Atlantic Council’s work on the regulatory dimension of finance and trade for the Global Business and Economic Program and provides bipartisan analysis on issues of transatlantic and global economic cooperation. He is the rapporteur of the Atlantic Council report Danger of Divergence: Transatlantic Financial Reform & the G20 Agenda, chaired by Senator Chris Murphy and former Member of the European Parliament Sharon Bowles, and the Atlantic Council’s report Renminbi Ascending: How China’s Currency Impacts Global Markets, Foreign Policy, and Transatlantic Financial Regulation, chaired by Governor Jon M. Huntsman, Jr.
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