Commodity Futures Trading Commission Chairman Michael S. Selig today announced Dr. Patrick J. Schorno has been named the agency’s chief economist to serve as economic adviser to the Commission and integrate rigorous economic analysis, regulatory cost-benefit analysis, and research into the CFTC’s mission.
“I am pleased to welcome Patrick to the CFTC as the chief economist,” Chairman Selig said. “His expertise in financial regulation and experience in the financial services industry make him an excellent fit for the agency to ensure high-quality, clear, and transparent economic analysis in support of the CFTC’s mission.”
“I am honored to join the CFTC as the chief economist,” Schorno said. “I would like to thank Chairman Selig for the opportunity to serve alongside the leadership team through rigorous, objective economic analysis that promotes confidence in U.S. derivatives markets, and to work closely with colleagues at the Securities and Exchange Commission on ongoing CFTC and SEC harmonization efforts.”
Dr. Schorno joins the CFTC from the Public Company Accounting Oversight Board where he served as the deputy chief economist. Among his earlier experiences, Dr. Schorno was an executive director at Ally Financial and a financial economist at the Federal Reserve Bank of Richmond. His academic research has been published in journals including the Journal of Banking & Finance, Journal of Financial Intermediation, and Journal of Corporate Finance.
Dr. Schorno holds a Ph.D. in finance from the University of North Carolina at Charlotte, an M.S. in analytical finance from Lehigh University, and a B.S. in finance from Bentley University.
