Robinhood attorney among top contenders for Trump regime’s pick as SEC head

With Donald Trump securing victory in the 2024 presidential election, his transition team is reportedly exploring potential candidates to lead the US Securities and Exchange Commission (SEC). The team is considering several prominent names from the finance, legal, and regulatory sectors, such as Robinhood’s top legal officer, along with seasoned bank regulators and corporate attorneys.

During a Bitcoin conference in July, Trump had pledged to remove SEC Chair Gary Gensler “on day one” in office. “Wall Street is one of the industries that Trump promised to free from the Biden administration’s regulations,” a Reuters report noted.

Gensler, whose term is set to end in 2026, has already signaled his intent to step down as the new administration takes office.

Among the leading candidates to replace Gensler is Dan Gallagher, Robinhood’s Chief Legal, Compliance, and Corporate Affairs Officer.

Crypto-enthusiast Gallagher is a former SEC commissioner from 2011 to 2015 and is well-regarded by the cryptocurrency community, many of whom contributed substantially to Trump’s campaign. While discussions remain ongoing, Gallagher currently stands out as a front-runner, according to multiple reports, including by Reuters.

Other notable contenders include Hester Peirce, a Republican SEC commissioner since 2017, known for her sharp dissenting opinions and commands respect within the legal community. Chris Giancarlo, who previously chaired the Commodity Futures Trading Commission and is now a partner at Willkie Farr & Gallagher, is also reportedly in consideration.

Paul Atkins, another former Republican SEC commissioner and current CEO of Patomak Global Partners, is being discussed as well. Atkins, who played a role on Trump’s 2016 transition team, was previously considered for the SEC chair position during Trump’s first term, as reported by Reuters.

Robert Stebbins, a partner at Willkie Farr & Gallagher and former SEC general counsel under Trump’s administration, is likewise on the shortlist for the role.