FOR IMMEDIATE RELEASE

2018-144

The Securities and Exchange Commission today announced that Elizabeth Baird and Christian Sabella have been named Deputy Directors in the Division of Trading and Markets.

Ms. Baird joins the SEC from Morgan, Lewis & Bockius LLP, where she was a partner in the firm's Washington, D.C. office and served as a leading adviser to businesses and investors in the fixed income, equities, and options markets. Prior to attending law school, Ms. Baird spent nearly a decade trading bonds. Ms. Baird earned her bachelor's degree from Brown University and her law degree from the Georgetown University Law Center.

Mr. Sabella has been an Associate Director in the division's Office of Clearance and Settlement since 2015, and played a key role in the development, implementation and oversight of financial market infrastructure policy initiatives, including standards for systemically important clearing agencies and shortening the standard settlement cycle. He joined the SEC in 2011 as a branch chief in the division's Office of Derivatives Policy and Trading Practices and later served as counsel to the director of the Division of Trading and Markets. Mr. Sabella earned his bachelor's degree from the University of Notre Dame and his law degree from the Georgetown University Law Center.

"Lizzie and Christian bring a breadth of complimentary experience and perspectives that will help the Division and the agency continue to look out for the long term interests of Main Street investors," said Brett Redfearn, Director of the Division of Trading and Markets.

"It's an honor to be invited to contribute my experience to ongoing work on initiatives that support the fair operation of our capital markets," said Ms. Baird. "I am excited to have the opportunity to work with the dedicated staff of Trading and Markets on issues that matter to investors."

"I am humbled and honored to take on this new role," said Mr. Sabella. "I am fortunate to work with talented and dedicated colleagues in the Division of Trading and Markets and throughout the SEC. I am excited to continue our shared goal of advancing the agency's mission and serving investors across the country."