The U.S. Commodity Futures Trading Commission (CFTC) has named Christopher Giancarlo, one its commissioners, as acting chairman on Friday.

Giancarlo replaces the U.S. derivatives regulator’s previous chairman, Timothy Massad, who resigned as new U.S. President Donald Trump’s administration has taken over in Washington, D.C.

Massad had served as chairman of the CFTC since June 5, 2014. Giancarlo joined the CFTC at around the same time, after the U.S. Senate confirmed him unanimously in June 2014.