President Trump this week nominated a Housing and Urban Development Department (HUD) senior adviser to serve as a member of the Commodity Futures Trading Commission (CFTC).
If confirmed by the Senate, Robert B. Bowes, a Republican, would succeed current Republican commissioner Brian Quintenz, whose term technically expired in April, but who is allowed under law to continue to serve until the end of the year. It widely is anticipated that Quintenz, who was confirmed and sworn into office at the CFTC in August 2017, will leave the agency in late October.
The White House announcement said Bowes has been at HUD since January 2017, and currently serves as a senior adviser at the Office of Personnel Management managing its health and insurance programs. At HUD, he previously helped lead its Federal Housing Administration’s programs to assist borrowers in accessing capital.
Prior to his service at HUD, Bowes was director of counterparty risk at Fannie Mae, where he managed relationships with mortgage insurers, banks and derivative counterparties that owed significant amounts for obligations on shared mortgage and interest rate risk. Before that, he was a vice president at Chase Manhattan Bank, leading corporate finance deals with financial institutions and investment advisers structuring mergers and syndicated asset securitizations.
Bowes received an undergraduate degree in finance and economics from Indiana University.