The Securities and Exchange Commission on Thursday named Andrew
Donohue chief of staff, replacing Lona Nallengara, who last week
said he would leave the agency in June.
Mr. Donohue is returning to the SEC after leaving in 2010. In
his previous role at the agency, he directed the division of
investment management from May 2006 until November 2010.
Most recently, Mr. Donohue worked as a managing director at
Goldman Sachs & Co. He previously held senior roles at Merrill
Lynch Investment Managers and Oppenheimer Funds, the SEC said in a
news release.
As chief of staff, Mr. Donohue will be a senior adviser to SEC
Chairman Mary Jo White on policy, management, and regulatory
issues.
Mr. Donohue's "deep knowledge of asset management will be
especially useful as the Commission advances its rule-making agenda
for addressing potential risks in asset management and considers a
uniform fiduciary standard," Ms. White said.
As the top mutual-fund overseer in his earlier SEC role, Mr.
Donohue has been credited by the agency with improving the
oversight of money-market funds, as well as for his efforts to
overhaul so-called 12b-1 fees, in the fund industry. He also
crafted a regulation to ban asset managers from making campaign
contributions to elected officials to win contracts to manage
public pension funds.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
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