The Securities and Exchange Commission (SEC) has appointed two new associate directors to its clearing and settlement office.
Wenchi Hu and Christian Sabella will join the SEC as associate director for risk and supervision, and associate director for regulation, respectively.
Hu will oversee supervision of registered clearing agencies, which has expanded to include firms that clear securities-based swaps.
“I am honoured to take on this new role and I look forward to continuing to work together with my talented and dedicated colleagues to help advance the agency’s mission,” she said.
Hu, who joined the SEC in 2011, has worked in various departments, including the office of compliance inspections and examinations, and the office of derivatives policy.
Sabella will lead a team that develops recommendations for commission policy and rulemaking regarding clearing agencies, transfer agents, security-based swap data repositories and a variety of other financial market infrastructure.
“I am humbled to take on this new role and would like to express my deep respect and appreciation for my colleagues in the division and throughout the agency,” he said.
“I look forward to continuing with them the critical work the commission performs on behalf of our markets, investors, and the public interest.”
Sabella also joined the SEC in 2011 as a branch chief in the trading practices and was a special counsel to the trading and markets division director from July 2013 to April 2015.
“Hu and Sabella bring an excellent blend of experience and expertise into their new positions,” said Stephen Luparello, director of the trading and markets division.
“Their skills and abilities complement each other in a way that will well serve investors and the agency.”
