On 15 January 2025, the United States Securities and Exchange Commission (US SEC) announced the upcoming departure of Jessica A. Wachter, Chief Economist and Director of the Division of Economic and Risk Analysis (DERA). Jessica A. Wachter, who has led the division since mid-2021, will leave the US SEC on 17 January 2025 to resume her academic career at the Wharton School of the University of Pennsylvania.
US SEC Chair Gary Gensler commended Wachter for her significant contributions to the agency, stating: “I thank Jessica for her leadership of the Division of Economic and Risk Analysis, her judgement, and her thoughtful economic analysis. As Chief Economist, she ably led a division that has a seat at the table for all of the SEC’s critical decision making, whether it’s policymaking, enforcement, or monitoring markets. I have enjoyed and learned so much from working with Jessica who has been one of my closest advisors. I wish her very well as she returns to academia.” Under Jessica A. Wachter’s guidance, DERA conducted over 100 economic analyses, supporting key rulemaking initiatives such as the implementation of central clearing in the Treasury market, the reduction of settlement cycles, enhancements to money market fund resilience, and improved transparency regarding cyber risks. Her tenure also saw advancements in data accessibility and its application to enforcement cases, including the calculation of ill-gotten gains and the return of funds to investors.
Jessica Wachter joined the US SEC in 2021, bringing with her an extensive academic and professional background. She served as a professor at the Wharton School, where she specialised in quantitative finance, and taught previously at NYU’s Stern School of Business. Her tenure at the SEC spanned approximately three and a half years, during which she played a key advisory role in the Commission’s initiatives.
Dr. Jessica Wachter said: “It has been an honor and privilege to serve as the Chief Economist and Director of the Division of Economic and Risk Analysis, I am grateful to Chair Gensler for giving me this tremendous opportunity. I am also grateful to the Chair and the Commission for their support through the last three and a half years and to the Division’s talented staff, who have taught me so much.” Reflecting on her time at the US SEC, Wachter expressed gratitude for the opportunity to lead DERA and work alongside its talented staff. She praised the division’s accomplishments in providing economic analysis that informed critical regulatory and enforcement decisions.
Wachter’s departure, announced two days before her final day at the US SEC, marks 1,310 days since her appointment. On 17 January 2025, she will officially return to Wharton as the Dr. Bruce I. Jacobs Chair of Quantitative Finance. As she transitions back to academia, her influence on financial economics and policy-making is expected to continue in her new role at Wharton.
(Source: https://www.sec.gov/newsroom/press-releases/2025-11)
