Haoxiang Zhu

Haoxiang Zhu is the Gordon Y Billard Professor of Management and Finance and Associate Professor of Finance at MIT Sloan School of Management. He specializes in asset pricing, market structure, and financial regulation. He served as Director of the Division of Trading and Markets at the U.S. Securities and Exchange Commission (SEC) from 2021 to 2024, overseeing major regulatory reforms including central clearing enhancements and settlement cycle modernization. Prior roles include editorships at Management Science and Journal of Finance, and advisory roles with the CFTC and BIS.

Education: BA in Mathematics and Computer Science from the University of Oxford; PhD in Finance from Stanford University Graduate School of Business.

Research focuses on market design, regulatory policy impacts, and financial innovation. Notable contributions include work on CBDC design, central clearing mechanisms, and the effects of bank regulation on liquidity. Awards include the 2017 Amundi Smith Breeden Prize and recognition as one of the top 40 under-40 business school professors (2016).

His SEC leadership included rulemaking to enhance transparency in securities lending and short selling, and day-to-day oversight of exchanges and broker-dealers. Academic engagements include keynote addresses at ECB conferences and editorial board roles. Research spans topics from mortgage dollar roll mechanisms to quantitative easing auctions.