WASHINGTON, July 8 (Reuters) - Amanda Renteria, mooted as a candidate to succeed Commodity Futures Trading Commission Chairman Gary Gensler, on Monday said she had withdrawn her name from the race to head the top U.S. derivatives regulator.
Gensler, a Democrat, will not have his term at the agency renewed after transforming it into a powerful overseer of bank activities after the U.S. economic crisis, lobbyists and people inside the agency have said.
His place at the helm could have been taken by Renteria, until recently chief of staff for Democratic Senator Debbie Stabenow, who heads the influential Agriculture Committee that oversees the CFTC, those people had said.
“I had been in discussions with the administration about a number of possible positions. Ultimately however, I have decided to move back to my home state of California instead,” Renteria said in an e-mailed statement. “It was an honor to be considered by the administration, but it’s time for me to return home.”
Both Stabenow and Renteria - a mother of two - had always said that the latter was under consideration by the White House for a number of positions, without explicitly confirming that Renteria was in the running for the CFTC.
The agency was given extensive new powers to overhaul the $630 trillion swaps market after the 2007-09 crisis and has been writing scores of new rules to change the structure of the opaque market, dominated by investment banks.