Robinhood Chief Legal Officer Dan Gallagher isn’t interested in serving as the next chairman of the Securities and Exchange Commission (SEC), expressing content with his current role at the popular investing platform.

“It is always an honor to have your name in the mix for an incredibly important job like SEC Chairman,” Gallagher told Decrypt in a statement. “However, I have made it clear that I do not wish to be considered for this position.”

Gallagher’s statement follows SEC Chair Gary Gensler’s resignation announcement Thursday, signaling that the figurehead would step down from his leadership role when President-elect Donald Trump assumes the White House on January 20, 2025.

In the run-up to the presidential election, Gallagher was reportedly in the running to lead the agency tasked with regulating securities markets. Politico was first to report the development in October, citing conversations with unnamed lobbyists, securities lawyers, and former regulators.

Gallagher fit the bill as someone with prior experience at the SEC. He served as a Republican commissioner for the SEC during former President Barack Obama’s tenure, while acting as counsel at the agency during George W. Bush’s presidency. 

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Author: André Beganski