What Happened to Walter Joseph "Jay" Clayton III?
Jay Clayton is an American attorney who has held prominent roles in both the public and private sectors. He served as the Chairman of the U.S. Securities and Exchange Commission (SEC) from 2017 to 2020, then transitioned to roles at Apollo Global Management and Sullivan & Cromwell. Most recently, after serving as the U.S. Attorney for the Southern District of New York, he was confirmed by the Senate in July 2026 as the Director of National Intelligence.
Quick Answer
Jay Clayton, after leading the U.S. Securities and Exchange Commission from 2017 to 2020, transitioned back to the private sector with Apollo Global Management and Sullivan & Cromwell. In April 2025, he returned to public service as the U.S. Attorney for the Southern District of New York. His most recent and significant development is his confirmation by the Senate on July 28, 2026, to serve as the Director of National Intelligence under President Donald Trump, following a contentious confirmation hearing.
📊Key Facts
📅Complete Timeline13 events
Born in Newport News, Virginia
Walter Joseph Clayton III was born in Newport News, Virginia.
Graduated from University of Pennsylvania Law School
Clayton earned his Juris Doctor degree from the University of Pennsylvania Law School.
Joined Sullivan & Cromwell
After a clerkship, Clayton began his career at the law firm Sullivan & Cromwell, where he would later become a partner.
Sworn in as SEC Chairman
Jay Clayton was sworn in as the Chairman of the U.S. Securities and Exchange Commission (SEC) by Justice Anthony Kennedy.
Resigned as SEC Chairman
Clayton concluded his tenure as SEC Chairman, having served for over three and a half years.
Joined Apollo Global Management and Sullivan & Cromwell
Following his SEC departure, Clayton became the Non-Executive Chair and Lead Independent Director of Apollo Global Management and rejoined Sullivan & Cromwell as Of Counsel and Senior Policy Advisor.
Co-Chaired Penn's Institute for Law and Economics
Clayton began co-chairing the University of Pennsylvania's Institute for Law and Economics, a role he held until 2025.
Appointed Interim U.S. Attorney for SDNY
President Donald Trump named Jay Clayton as the interim U.S. Attorney for the Southern District of New York.
Assumed U.S. Attorney for SDNY Permanently
Clayton's appointment as U.S. Attorney for the Southern District of New York was approved by federal judges, making his role permanent.
SDNY Indictment in Gracie Mansion Attack
Under Clayton's leadership, the SDNY indicted Emir Balat and Ibrahim Kayumi for an alleged terrorist attack outside Gracie Mansion in New York.
Nominated for Director of National Intelligence
President Donald Trump announced his nomination of Jay Clayton to serve as the Director of National Intelligence.
Contentious DNI Confirmation Hearing
During his Senate confirmation hearing for DNI, Clayton declined to directly state that Joe Biden won the 2020 election, causing controversy.
Confirmed as Director of National Intelligence
The U.S. Senate confirmed Jay Clayton as the Director of National Intelligence by a 51-47 vote, ending the acting tenure of Bill Pulte.
🔍Deep Dive Analysis
Walter Joseph "Jay" Clayton III has carved out a distinguished career spanning law, finance, and government. Born on July 11, 1966, Clayton began his legal career after graduating from the University of Pennsylvania Law School in 1993, clerking for Judge Marvin Katz and then spending over two decades at Sullivan & Cromwell, where he became a partner and was involved in significant mergers and acquisitions, including during the 2008 financial crisis.
His most prominent public role began in May 2017 when he was sworn in as the Chairman of the U.S. Securities and Exchange Commission (SEC) under President Donald Trump. During his tenure, which concluded in December 2020, Clayton focused on modernizing market regulations, promoting capital formation, and protecting retail investors. The SEC brought over 2,750 enforcement actions and obtained more than $14 billion in financial remedies under his leadership. However, his tenure also drew criticism from some investor protection advocates for pursuing a largely deregulatory agenda.
Following his departure from the SEC, Clayton returned to the private sector. He served as the Non-Executive Chair and Lead Independent Director of Apollo Global Management and rejoined Sullivan & Cromwell LLP as Of Counsel and Senior Policy Advisor. He also took on academic roles as an Adjunct Professor at the University of Pennsylvania's Carey Law School and Wharton Business School, and co-chaired the University of Pennsylvania's Institute for Law and Economics from 2022 to 2025.
A significant return to public service occurred in April 2025 when President Trump named Clayton as the interim U.S. Attorney for the Southern District of New York (SDNY). He was approved by federal judges and assumed the role permanently in August 2025. During his time at SDNY, Clayton's office focused on a range of issues including gun violence, drug trafficking, national security threats, and financial fraud.
The latest development in Clayton's career came in June 2026, when President Trump nominated him to be the Director of National Intelligence (DNI). This nomination followed a period of controversy surrounding the acting DNI. The Senate confirmed Clayton's nomination on July 28, 2026, by a 51-47 vote. His confirmation hearing was notable for his refusal to directly state that Joe Biden won the 2020 presidential election, instead affirming that Biden was "certified" as the victor, which drew criticism from some Democrats. As of July 29, 2026, Jay Clayton is the newly confirmed Director of National Intelligence.
What If...?
Explore alternate histories. What if Walter Joseph "Jay" Clayton III made different choices?