Not known in the political circles or the corporate America, the best way to describe Wall Street lawyer Walter J. Clayton is a deal maker.
Because of this quality, he was nominated to head the Securities and Exchange Commission in what can be seen as a clear signal that the Trump administration will focus on financial regulation, helping up and coming companies to raise budget in the public markets in the wake of over tightening regulation. The previous two heads from the Obama administration had regulatory and enforcement experience.
Mr. Walter Clayton spent his career in boardrooms meetings and deals, as his experience comes from dealing with banks handle the government and settlements for several financial institutions in the matter of mortgage securities.
He was in the middle of the financial crisis, representing Barclays Capital in purchasing the bankrupt Lehman Brothers in 2008, and the fire slave of JPMorgan Chase in 2007 by Bear Stearns. He took part in mergers and initial public offerings, as well as the biggest one ever, the 2013 25 billion dollar offering by Alibaba Group.
With his confirmation pending, there may be cause from recusing himself from certain matters, as was the case with the current S.E.C. head Mary Jo White, who was a lawyer at Debevoise & Plimpton representing big names like JPMorgan Chase, Ruper Murdoch’s News Corporation and Kenneth D. Lewis, Bank of America ex-chief executive.
“When I think about the position, the guy has a really deep understanding of the capital markets and financial regulatory matters, so he checks those boxes,” said Brad Whitman, vice chairman in mergers and acquisitions at Morgan Stanley, who has worked with Mr. Clayton over many years. “He’s got a great appreciation for what drives business and growth.”