Heath Tarbert

Heath Tarbert
Heath Tarbert
Born	July 15, 1976 (age 50); Baltimore, Maryland, U.S.
Occupation(s)	Attorney, public official, corporate executive
Years active	2003–present
Known for	Chair of the Commodity Futures Trading Commission (2019–2021); Assistant Secretary of the Treasury for International Markets and Development; Acting Under Secretary of the Treasury for International Affairs; President of Circle

Heath Price Tarbert (born July 15, 1976) is an American attorney and former public official who served as the 14th Chair of the Commodity Futures Trading Commission (CFTC) from 2019 until 2021. His previous government positions include Assistant Secretary of the Treasury for International Markets and Development as well as acting Under Secretary of the Treasury for International Affairs. As of 2025, he holds the position of president at Circle.

Early life and education

Tarbert was born and raised in Baltimore, Maryland and attended Calvert Hall College High School, a private Catholic preparatory institution. During his high school years, he achieved the rank of Eagle Scout.

He was the first member of his family to pursue higher education, earning a Bachelor of Science degree in accounting and international business from Mount St. Mary's University in 1998. He then obtained a Juris Doctor in 2001 followed by a Doctor of Juridical Science in 2002 from the University of Pennsylvania Law School, where he served as a senior editor for the University of Pennsylvania Law Review.

Subsequently, Tarbert completed both a Master of Studies and a Doctor of Philosophy in comparative law at St John's College, Oxford in 2005, supported by a Thouron Scholarship. His doctoral research examined "Deal protection devices in stock-for-stock mergers: an Anglo-American analysis".

Early career

Tarbert launched his legal profession at the international law firm Sullivan & Cromwell between 2003 and 2005. He then clerked for Chief Judge Douglas H. Ginsburg on the U.S. Court of Appeals for the D.C. Circuit from 2005 to 2006 before serving as an attorney-adviser within the Office of Legal Counsel at the U.S. Department of Justice from 2006 to 2007. From 2007 to 2008, he clerked for Supreme Court Justice Clarence Thomas.

From 2008 to 2009, Tarbert acted as Associate Counsel to the President of the United States, providing legal guidance to both the National Economic Council and the Council of Economic Advisers concerning the federal government's response to the financial crisis of 2008.

Between 2009 and 2010, he worked as Special Counsel to the Senate Committee on Banking, Housing, and Urban Affairs, playing a role in drafting legislation that culminated in the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act.

From 2010 through 2013, Tarbert was senior counsel and later partner at Weil Gotshal & Manges, where he led its Financial Regulatory Reform Working Group. In 2014, he joined Allen & Overy as partner and headed its U.S. banking regulatory practice.

Other professional roles

Tarbert has held several prominent positions including Chairmanship of the American Bar Association Subcommittee on Systemically Important Financial Institutions, Legal Adviser to the Systemic Risk Council, Senior Fellowship at Harvard Law School's Program on International Financial Systems, deputy directorship at the Committee on Capital Markets Regulation, and membership on the Bretton Woods Committee. He is also an elected member of the American Law Institute and holds Life Membership in the National Eagle Scout Association.

U.S. Department of the Treasury

On April 4, 2017, the White House put forward Tarbert's nomination for the role of Assistant Secretary for International Markets and Development. The Senate confirmed him on September 27, 2017, with a vote of 87–8, and he officially took office on October 10, 2017. In April 2019, following David Malpass's exit to head the World Bank Group, Tarbert assumed the position of acting Under Secretary for International Affairs.

In his capacity as acting Under Secretary, Tarbert championed U.S. objectives within multilateral financial institutions, concentrating on economic stability, regulatory frameworks, growth initiatives, trade discussions, and ensuring fair competition for American companies. He led the U.S. delegation at meetings of G-7 and G-20 Finance Ministers and Central Bank Governors' Deputies. Tarbert was a member of the Financial Stability Board (FSB), participating in its Steering Committee as well as all Standing Committees. Additionally, he co-chaired both the U.S.-EU Financial Regulatory Forum and the U.S.-UK Financial Regulatory Working Group to foster regulatory collaboration and advance U.S. economic priorities.

Tarbert also chaired policy deliberations for the Committee on Foreign Investment in the United States (CFIUS), striking a balance between encouraging investment and safeguarding national security interests. He played a key role in crafting the Foreign Investment Risk Review Modernization Act (FIRRMA), which gained bipartisan approval and was enacted in August 2018.

International financial institutions

During his Treasury tenure, Tarbert simultaneously acted as the U.S. Executive Director on the World Bank Group Board from 2017 through 2018, where he negotiated a capital package that introduced institutional reforms and increased funding allocations to poorer nations.

Commodity Futures Trading Commission

The White House nominated Tarbert on January 9, 2019, to serve as the 14th chairman of the Commodity Futures Trading Commission. Prior to his confirmation hearing, a coalition representing agricultural interests publicly supported his nomination. On April 1, 2019, he was unanimously approved by voice vote from the Senate Agriculture Committee. The Senate confirmed him on June 5, 2019, by an 85–9 vote as commissioner with a term ending April 13, 2024, and by an 84–9 vote as chairman. Tarbert was sworn into office on July 15, 2019.

As chairman, Tarbert managed roughly 1,000 employees distributed across offices in Washington, DC; Chicago; New York; and Kansas City. He was one of ten voting members on the Financial Stability Oversight Council (FSOC) and was elected vice-chair of the board of the International Organization of Securities Commissions (IOSCO) in June 2020.

Tarbert positioned the CFTC as a defender of Main Street values and American free enterprise principles. In a July 2019 opinion piece, he described the agency as "a guardian of our free enterprise system," emphasizing its focus on markets that benefit everyday Americans. He reinforced the agency’s dedication to agriculture by supporting its Agricultural Advisory Committee, underscoring farmers and ranchers as vital components of the real economy. Tarbert also pursued revisions to regulations implementing provisions of the 2010 Dodd–Frank Wall Street Reform and Consumer Protection Act.

Under his leadership, the CFTC conducted 20 open meetings—exceeding the total number held in the prior seven years combined—and finalized 41 new rules. The agency initiated more than 160 enforcement actions during his chairmanship, including a record-setting 113 actions in fiscal year 2020. His tenure was distinguished by bipartisan cooperation: approximately 90 percent of final and proposed regulations advanced with support from both parties. Tarbert emphasized that despite wider political polarization, the Commission maintained a collegial working environment.

Following Joe Biden’s victory in the 2020 presidential election, Tarbert announced plans to step down from his chairmanship in early 2021 while continuing as a commissioner. He relinquished his role as chairman on January 21, 2021; Rostin Behnam succeeded him as Acting Chairman. Tarbert resigned from the commission entirely on March 5, 2021.

Post-government career

Following his departure from the role of CFTC Commissioner, Tarbert joined Citadel Securities as Chief Legal Officer beginning April 1, 2021. This transition drew scrutiny due to concerns about the "revolving door" phenomenon between regulatory agencies and the financial industry.

On September 15, 2022, Tarbert provided testimony before the U.S. Senate Committee on Agriculture, Nutrition, and Forestry concerning the Digital Commodities Consumer Protection Act. He expressed criticism of the current state of digital asset markets, highlighting their regulatory deficiencies, and endorsed the legislation for its potential to close oversight gaps, reinforce U.S. leadership in digital assets, and secure sustainable market development.

In 2024, Tarbert was appointed as a Distinguished Policy Fellow at the University of Pennsylvania Law School under the Leo Model Foundation Government and Public Affairs Initiative, which seeks to incorporate policy practitioners into academic environments.

Circle, a global fintech enterprise focused on payment systems and issuer of the U.S. dollar-backed stablecoin USD Coin (USDC), announced in June 2023 that Tarbert would serve as Chief Legal Officer and Head of Corporate Affairs. Founder and CEO Jeremy Allaire highlighted Tarbert’s expertise in connecting conventional finance with Web3 technologies and advancing USDC’s worldwide adoption. In February 2025, Allaire revealed Tarbert’s elevation to Circle’s inaugural President position to spearhead sustained growth amid a critical period for the industry.

Personal life

Heath Tarbert is married to Kathryn "Kate" (Komp) Tarbert; they met while both were clerking for Judge Ginsburg during 2005–2006. The couple has two sons.

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