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TRENDING TAGS
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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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SEC's New Director of Investment Management Division
Eileen Rominger, the new chief at the SEC's Investment Management Division, has a notable distinction. Having just left Goldman Sachs, her haunt for 11 years, Ms. Rominger is one of the wealthiest people to ever join the Agency.
Ms. Rominger reported $58 million in income from New York-based Goldman Sachs in a financial disclosure form covering 2010 and 2011, and reported making between $2 million to $13 million in investment income since the start of 2010. At 56, Mr. Rominger retired as global chief investment officer at Goldman Sachs Asset Management in December - having been with the firm for 11 years.
She was appointed to the by SEC Chairman Mary Schapiro in January, replacing Andrew J. “Buddy” Donohue. In her role, Mr. Rominger will handle new oversight of hedge funds required by the Dodd-Frank Act.
Millionaire Officials. While Ms. Rominger is unique, she's not the first regulator to report to the SEC with an oversized bank account. There was former Treasury Secretary Henry Paulson, who amassed more than $500 million in a career that peaked with his job as CEO of Goldman Sachs. Treasury Department official Mary Miller - assistant secretary for financial markets - had $15mn in stock options when she left the T.Rowe Price Group after a 26-year career.
And then there's SEC Chairman Mary Schapiro, who received a $9 million final distribution from FINRA, which included vested retirement benefits. A predecessor at the SEC, William Donaldson, owned assets worth between $44 million and $129 million, including stocks in more than 50 companies, at the time he got the job. [Bloomberg, 9/1/11]

