Haoxiang Zhu
Haoxiang Zhu, director of the SEC’s division of trading and markets, will leave the agency Dec. 10, the agency announced.
David Saltiel, a deputy director who also leads the division’s office of analytics and research, will serve as acting director, the SEC said in a Dec. 9 news release.
“It’s been my greatest honor and privilege to serve at the SEC,” Zhu said in the news release.
Zhu’s departure comes shortly after SEC Chair Gary Gensler announced he will leave the agency Jan. 20 — the same day as President-elect Donald Trump’s inauguration.
“I want to thank Haoxiang for his leadership of the division of trading and markets for the last several years,” Gensler said in the news release. “In that time, we’ve worked to bring central clearing to the Treasury market, comprehensively update the national market system rules for the first time in nearly two decades and shorten the settlement cycle. Investors and issuers will benefit because of these reforms achieved during Haoxiang’s time of service.”
On Dec. 5, Gensler highlighted a number of rules finalized during his tenure as chair, including shortening the settlement cycle to T+1 — settling a trade one business day after it is executed — from T+2, or two business days.
“I'm kind of proud of that,” Gensler said of the rule at an American Bar Association conference in Washington.
After his departure, Zhu will return to the MIT Sloan School of Management as the Gordon Y. Billard professor of management and finance and associate professor of finance — a position he held prior to joining the SEC in December 2021.
