In a significant leadership move for U.S. market oversight, the Securities and Exchange Commission has appointed general counsel J. Russell McGranahan to head its legal office.
SEC appoints Rusty McGranahan as top legal officer
The Securities and Exchange Commission announced on Jan. 15, 2026, that J. Russell “Rusty” McGranahan has been named SEC General Counsel, becoming the agency’s chief legal officer with responsibility for advising the Office of the Chairman, Commissioners, and staff across the organization.
As General Counsel, Mr. McGranahan will oversee the provision of legal expertise and guidance on complex regulatory, enforcement, and policy matters affecting the U.S. capital markets. Moreover, he will play a central role in shaping the Commission’s rulemaking and oversight agenda.
Jeffrey Finnell, who had been serving as Acting General Counsel, will remain at the Commission as Deputy General Counsel, ensuring continuity in the agency’s legal leadership during this transition.
Chairman Atkins highlights experience and priorities
SEC Chairman Paul S. Atkins praised the appointment, emphasizing his longstanding relationship with Mr. McGranahan and his extensive background in securities and M&A law. However, Atkins also stressed that prior public company and government service as general counsel will be crucial for the Commission’s current priorities.
Atkins noted that he expects Rusty to apply his experience immediately across a wide range of initiatives, including efforts to strengthen U.S. capital markets and advance a robust rulemaking agenda. That said, the Chairman also underscored the importance of leadership capable of navigating rapid changes in technology and finance.
Chairman Atkins separately thanked Jeff Finnell for his tenure as Acting General Counsel, describing his judgment and deep expertise in securities laws as invaluable to the SEC. Moreover, he welcomed Finnell’s continued service as Deputy General Counsel as the agency moves forward with its policy and enforcement work.
McGranahan’s vision for innovation and capital formation
Mr. McGranahan said it is an honor to join the SEC and the Chairman’s senior team during a period of rapid technological and financial innovation. He indicated that he looks forward to working with SEC colleagues to embrace new developments while maintaining America’s preeminence in financial services and capital formation.
According to McGranahan, the sec general counsel role will require balancing innovation with investor protection. However, he emphasized that responsible regulation can foster growth in the capital markets while preserving confidence in U.S. financial infrastructure.
Extensive legal and leadership background
Mr. McGranahan’s career spans 30 years across leading companies and law firms, providing a deep legal counsel background in both private and public sectors. Most recently, he served as General Counsel of the U.S. General Services Administration (GSA), where he helped set the course for several key initiatives during the first 10 months of the current Administration.
Prior to GSA, he was General Counsel of Focus Financial Partners, a wealth management firm. He spent nine years with Focus Financial, leading the legal function through a period of explosive growth, including its IPO in 2018 and a going private transaction in 2023. Moreover, his tenure there highlights his experience in complex capital markets transactions and corporate governance.
Before joining Focus Financial, Mr. McGranahan spent nine years with BlackRock, where he served as Managing Director, M&A Counsel, and Corporate Secretary. That said, his time as a senior BlackRock managing director further solidified his expertise in large-scale asset management and strategic transactions.
Early career and academic credentials
Earlier in his career, Mr. McGranahan worked at prominent law firms Skadden, Arps and White & Case. For three years, he was based in Eastern Europe, where he advised on some of the region’s first public offerings, gaining cross-border capital markets experience that remains relevant to global regulatory work.
Mr. McGranahan earned his J.D. from Yale Law School and his B.A., summa cum laude, in Economics and Politics from the Catholic University of America. He has also earned the Chartered Financial Analyst (CFA) designation, adding a rigorous analytical finance credential to his legal training.
Significance of the SEC leadership appointment
This SEC leadership appointment underscores the Commission’s focus on combining market expertise, regulatory experience, and international perspective at the top of its legal function. Moreover, the combination of public sector and private market roles positions McGranahan to advise on both innovative financial products and traditional securities regulation.
Source: https://en.cryptonomist.ch/2026/01/15/sec-general-counsel-new-leadership/
