James B. Lockhart III is a senior fellow at BPC and co-chairs BPC’s Commission on Retirement Security and Personal Savings. He is a director of VG Acquisition Corp. and Chairman of the Bruce Museum. In August 2018, he was nominated to be a public trustee of Social Security and Medicare.
Until recently, Lockhart was vice chairman of WL Ross & Co. LLC, where he was a member of the management committee, oversaw the financial services investment team, and served on investment committees for its private equity and mortgage funds.
From April 2006 to August 2009, Lockhart was the director of the Federal Housing Finance Agency and its predecessor, Office of Federal Housing Enterprise Oversight. He served as the chairman of Federal Housing Finance Oversight Board and a member of the Financial Stability Oversight Board.
Lockhart previously held the positions of principal deputy commissioner and chief operating officer of the Social Security Administration, secretary to its board of trustees and a member of President George W. Bush’s management council. Lockhart also served in the previous Bush administration as executive director of the Pension Benefit Guaranty Corporation from 1989 until 1993.
Lockhart co-founded and served as managing director of NetRisk, a risk management software and consulting firm serving major financial firms worldwide. Lockhart holds degrees from Yale University and Harvard Business School. He served as a Lieutenant (j.g.) in the U.S. Navy aboard a nuclear submarine.