WASHINGTON — Former House Financial Services Committee Chairman Jeb Hensarling is joining the Milken Institute's Center for Financial Markets as a senior fellow, the group announced Thursday.
Hensarling — a Texas Republican who chaired the committee for three terms — did not run for re-election last fall and was hired by the Swiss bank UBS in April as executive vice chairman of the Americas region.
“Jeb’s extensive network, deep expertise, and strong leadership in promoting free enterprise will be integral to our work ensuring the smooth and efficient operation of financial markets,” Michael Piwowar, the executive director of the Milken Institute Center for Financial Markets, said in a press release. “He has been a regular participant in our events and we are delighted he will be joining us in this expanded role.”
Hensarling will join a number of other notable fellows at the group’s Center for Financial Markets, including Ted Tozer, the former president of Ginnie Mae, and Michael Stegman, a former senior policy adviser for housing on the National Economic Council and former counselor to the secretary of the Treasury Department for housing finance policy.
“The Milken Institute has been instrumental in pulling together public and private sector leaders with different backgrounds and viewpoints to work constructively toward solutions that expand economic opportunity and access to capital for all,” Hensarling said in the news release. “I am pleased to join Mike Piwowar and the team at the Center for Financial Markets to continue my efforts to strengthen, preserve and promote capitalism.”
During his tenure as chair of the House Financial Services Committee, Hensarling shepherded his Financial Choice Act through the House. The bill sought to roll back the post-crisis framework established in Dodd-Frank. Although that legislation never reached the Senate, some provisions of the Senate regulatory relief package that was ultimately enacted into law
Hensarling also introduced multiple housing finance reform bills, including a bipartisan plan he introduced last year with former Rep. John Delaney, D-Md., and Rep. Jim Himes, D-Conn., that would provide a new securitization guarantee through Ginnie Mae.
