CFTC Appoints Dr. Patrick J. Schorno as Chief Economist

Commodity Futures Trading Commission (CFTC) Chairman Michael S. Selig has announced the appointment of Dr. Patrick J. Schorno as the agency’s new chief economist. In his role, Dr. Schorno will act as economic adviser to the Commission. His duties include integrating economic analysis, regulatory cost-benefit evaluations, and research into the CFTC's broader regulatory and market oversight mission. Chairman Selig highlighted Dr. Schorno's background across financial regulation and the financial services industry, noting that his experience will support transparent, high-quality economic analysis for the agency. Dr. Schorno stated that his focus will include delivering objective economic analysis to support confidence in U.S. derivatives markets and collaborating with the Securities and Exchange Commission (SEC) on regulatory harmonization efforts between the two agencies. Prior to his appointment at the CFTC, Dr. Schorno served as the deputy chief economist at the Public Company Accounting Oversight Board (PCAOB). He previously worked as an executive director at Ally Financial and as a financial economist at the Federal Reserve Bank of Richmond. His academic research has been published in financial publications including the Journal of Banking & Finance, the Journal of Financial Intermediation, and the 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.