The SEC announced that Norm Champ will succeed Eileen Rominger as director of SEC's investment management division, which oversees the investment management industry, including mutual fund advisors.

Champ's shift in duties was covered by Reuters, Dow Jones Newswires, Bloomberg BusinessWeek and InvestmentNews.

Champ joined the SEC in January 2010 as associate board director for investment advisor and investment company examinations. In June of that year, he became deputy director of the SEC's Office of Compliance Inspections and Examinations (OCIE), where he led the creation of OCIE's first examination manual.

Before he joined the SEC in 2010, Champ had worked with investment management firm Chilton Investment Company as a partner and as a member of the executive committee.

SEC Chairman Mary Schapiro has claimed that Champ is "a natural leader" with a "breadth of experience and deep insight."

Investment Company Institute president Paul Schott Stevens stated that the ICI looks "forward to working with Norm Champ in his new role leading the Division of Investment Management." 

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