According to Bloomberg, President Obama has selected securities lawyer Sharon Y. Bowen to replace Bart Chilton as CFTC commissioner.
The news comes on the heels of Commissioner Mark P. Wetjen being voted in by fellow commissioners to replace Chairman Gary Gensler until Obama’s nomination for Timmothy Massad is voted on by the Senate.
Chilton announced his departure from the CFTC last month. A colorful character, Chilton was well known for his outspoken nature and his less than conventional speeches. It will be interesting to see how Bowen fills the role.
While initially scheduled to leave at the end of the year, Chilton will most likely stay on longer than expected to help out, as, until Massad and Bowen are voted in, the CFTC would be left with a mere two of the five commissioners it’s supposed to run with.
Bowen got her law degree from the Northwestern University School of Law in Chicago. She currently represents corporations and buyout firms at Latham & Watkins in New York.
It’s unclear as to when the senate will vote on Bowen.