Haoxiang Zhu

Haoxiang Zhu is Gordon Y Billard Professor of Management and Finance and Associate Professor of Finance at the MIT Sloan School of Management. His main research interests are broadly in asset pricing, especially market structure and design. He has published research papers in Journal of Finance, Journal of Financial Economics, Journal of Economic Theory, Review of Economic Studies, and Review of Financial Studies, among others. Zhu's research has won several awards, including the 2017 Amundi Smith Breeden Prize (First Prize) from the Journal of Finance, the 2016 AQR Insight Award Prize (First Prize), the 2015 Kepos Capital Award for Best Paper on Investments from the Western Finance Association, and the 2013 Review of Financial Studies Young Researcher Prize. In 2016, he was named one of the 40 under 40 Best Business School Professors by Poets and Quants.

Haoxiang Zhu served as the director of the Division of Trading and Markets at the Securities and Exchange Commission from December 2021 to December 2024. During his tenure, the SEC undertook several significant initiatives to modernize the regulation of U.S. securities markets, including expanded central clearing for Treasury repurchase and cash transactions, shortening the securities settlement cycle to one day, and comprehensively revising rules that govern the market-wide mechanics of stock trading and execution quality disclosure. The SEC also updated existing regulations for broker-dealers and adopted new rules that increase the transparency and integrity of markets for securities lending, short selling, and security-based swaps. Besides rulemaking, Haoxiang Zhu led the Division of Trading and Markets' efforts in the day-to-day oversight of exchanges, alternative trading systems, broker-dealers, FINRA, clearing agencies, and other market participants.

Haoxiang Zhu previously served as a finance department editor of Management Science, an associate editor of Journal of Finance, an academic expert for the U.S. Commodity Futures Trading Commission (CFTC) and the Bank for International Settlements (BIS), and a member of the Federal Reserve Bank of Chicago's Working Group on Financial Markets.

He holds a BA in mathematics and computer science from the University of Oxford and a PhD in finance from Stanford University Graduate School of Business.