Gary S. Gensler American economist and financier Date of Birth: 18.10.1957 Country: USA

Biography of Gary Gensler

Gary Gensler, an American economist and financier, served as the chairman of the U.S. Commodity Futures Trading Commission under President Barack Obama. Born in Baltimore, Maryland, Gensler grew up in a politically active family, with his father, Sam Gensler, being a prominent figure in the local Democratic Party.

Gensler attended the Wharton School at the University of Pennsylvania, graduating with a bachelor's degree in economics in 1978. He then went on to earn a Master of Business Administration degree. Following his education, Gensler joined Goldman Sachs in 1978 and remained with the company for 18 years. He became a partner at the age of 30, setting a record for the firm. Gensler eventually became a leader in the firm's fixed income and currency departments, working in Tokyo in the mid-1990s. He later held a prominent position in the firm's financial division.

In addition to his work at Goldman Sachs, Gensler served as an advisor to the National Football League during their negotiations with television networks in 1990. From 1999 to 2001, he worked as an assistant secretary of the Treasury for financial markets, overseeing policies related to U.S. financial markets, debt management, and financial services. Gensler also advocated for the promotion of the Commodity Futures Modernization Act during this time.

In 2000, Gensler co-authored the book "The Great Mutual Fund Trap" with Greg Baer. The book discusses the inefficiency of active trading and investments for individual investors, suggesting that individuals should entrust their funds to specialized firms for better management.

Gensler served as the chief economic advisor to Hillary Clinton's presidential campaign in 2008 and later joined the Obama administration. He oversaw the Securities and Exchange Commission's activities and was eventually appointed as the chairman of the U.S. Commodity Futures Trading Commission. Despite some criticism and opposition to his appointment, Gensler played a key role in the implementation of Wall Street reforms and the Consumer Protection Act. Under his leadership, the commission launched various lawsuits against major Wall Street banks.

Gensler left his position at the commission in December 2013. In 1986, he married Francesca Danielli, a filmmaker and collage artist, and they had three daughters together. Unfortunately, his wife passed away from breast cancer in 2006.