Jessica Wachter Named SEC Chief Economist and Director of the Division of Economic and Risk Analysis
FOR IMMEDIATE RELEASE
Washington D.C., May 3, 2021 —
The Securities and Exchange Commission today announced that Jessica Wachter has been appointed Chief Economist and Director of the Division of Economic and Risk Analysis (DERA). Dr. Wachter joins the SEC from the Wharton School, University of Pennsylvania, where she has been a professor since 2003.
"For centuries, capital markets have evolved by adapting to technological innovation and the emergence of new data sources," said SEC Chair Gary Gensler. "It is essential that we apply rigorous economic analysis to ensure that our policymaking, enforcement decisions, and examinations are informed by the data we have available to us. Jessica Wachter is an exceptional economist who has completed wide-ranging research on issues critical to the SEC's mission. The Commission and the capital markets will benefit from her extensive experience and stellar track record in the field of financial economics."
"I thank Chyhe Becker for her leadership of DERA as Acting Chief Economist and look forward to our continued work together," added Chair Gensler.
"I am honored to be joining the SEC and the dedicated experts within DERA," said Dr. Wachter. "Sound economic and statistical analysis is critical to the SEC's mission, and I greatly look forward to working with the team to inform decision-making at the agency."
Jessica Wachter is one of the leading academic researchers on financial markets. She holds the Dr. Bruce I. Jacobs Chair of Quantitative Finance at the Wharton School and is a Research Associate with the National Bureau of Economic Research. Prior to Wharton, she taught at New York University's Stern School of Business. Her research focuses on behavioral finance, capital markets, and financial crises. She previously served on the boards of the American Finance Association and the Western Finance Association and as associate editor of the academic publications Review of Financial Studies and Journal of Economic Theory. Dr. Wachter graduated with an A.B. in Mathematics magna cum laude and a Ph.D. in Business Economics from Harvard University.