Indian American chief economist SP Kothari to leave SEC by end of January

Indian-American SP Kothari played a key role in raising the profile of Securities and Exchange Commission as its chief economist and director of the Division of Economic and Risk Analysis

Indian-American SP Kothari, who played a key role in raising the profile of Securities and Exchange Commission as its chief economist and director of the Division of Economic and Risk Analysis (DERA), would leave SEC by the end of January.

As Chief Economist, S P has raised the profile of the SEC, both domestically and internationally, on a range of topics affecting investors and our markets, including within the President's Working Group on Financial Markets, the Financial Stability Oversight Council, and the Financial Stability Board, said SEC Chairman Jay Clayton.

SP achieved this by providing that rare combination of sophisticated macroeconomic analysis and market pragmatism as well as a knack for making complicated economic and market commentary accessible to everyone, he said.

Kothari chaired the internal COVID-19 Market Monitoring Group, which was formed to assist the Commission and its various divisions and offices in developing Commission and staff analyses and actions related to the effects of COVID-19 on markets, issuers and investors.

It was also to assist in particular long-term Main Street investors, and responding to requests for information, analyses, and assistance from fellow regulators and other public sector partners on market matters arising from the effects of COVID-19.

Clayton said that Kothari's invaluable skills were on full display during the COVID-19 related market stress of March and April 2020, in his subsequent work leading Interconnectedness Initiative, and through his and the Division's many accomplishments.

Since joining the SEC in March 2019, Kothari led the Division's cadre of economists, data scientists, and other professionals in advancing the Commission's mission of protecting investors; maintaining fair, orderly, and efficient markets; and facilitating capital formation through sound economic analysis and rigorous data analytics, SEC said.

Under his leadership, DERA engaged across the entire range of the agency's mission areas, including rulemaking, examination, and enforcement.

Its multi-disciplinary analyses helped the Commission identify, analyze, and respond to economic and market issues, including those related to new financial products, investment and trading strategies, systemic risk, and fraud, SEC said.

I have been honoured to lead the Division of Economic and Risk Analysis over the last two years, said Kothari.

I am thankful for the Division's talented staff and the support of the Chairman and others at the Commission. Working with everyone here has been a great privilege and tremendously rewarding, he said.