Trump may consider Robinhood executive for SEC chair role

Several former U.S. regulators and securities lawyers suggest that Donald Trump could potentially consider Dan Gallagher, Robinhood’s chief legal officer and former SEC commissioner, to lead the Securities and Exchange Commission (SEC) if Trump wins the 2024 presidential election. 

According to a report by Politico, Gallagher, who served as an SEC commissioner from 2011 to 2015, was described as a “natural choice” by a former SEC official. 

He has been Robinhood's chief legal officer since 2020. 

Trump has previously stated that, if elected, he would fire current SEC Chair Gary Gensler “on day one.” 

With the 2024 election polls showing a close race between Trump and Democratic candidate Vice President Kamala Harris, speculations have emerged regarding possible cabinet picks, including the leadership of the SEC. 

Former officials have also mentioned other potential candidates Trump could consider, such as Chris Giancarlo, former chair of the Commodity Futures Trading Commission, and Robert Stebbins, former SEC General Counsel. 

Hester Peirce, one of the current SEC commissioners known for her pro-crypto stance, was also suggested as a contender. 

The Trump campaign has not yet made any formal announcements regarding cabinet picks for a potential 2025 administration. 

However, there has been speculation about roles for high-profile individuals like Elon Musk, who has recently increased his public support for Trump. 

Despite rumors, Trump has denied that JPMorgan CEO Jamie Dimon or BlackRock CEO Larry Fink would be considered for Treasury Secretary. 

On the other side, it is unclear whether Kamala Harris, if elected, would retain Gensler as SEC Chair. 

During her campaign, Harris hinted at supporting the digital asset industry in 2025, which may influence Gensler’s future at the SEC. 

According to reports, the SEC Chair's current term is set to end in June 2026, but many within the industry remain critical of the SEC's regulatory approach under Gensler.