An old Buddy is back at the SEC, this time as chief of staff. Andrew Donohue
-- who is better known as "Buddy" -- was announced as Lona Nallengara's replacement at the SEC today by Chair Mary Jo White
"His deep knowledge of asset management will be especially useful as the Commission advances its rulemaking agenda for addressing potential risks in asset management and considers a uniform fiduciary standard," stated White.
The SEC's move on a unified fiduciary standard comes as the DoL is also in the midst of redefining its rules around fiduciaries in qualified plans and IRAs. The staff at SEC and DoL working together on the issues White told fundsters gathered for the ICI GMM in Washington earlier this month.
Donohue will a senior adviser to White on all policy, management, and regulatory issues as chief of staff. Nallengara is resigning from the post in June.
Donahue rejoins the SEC from Goldman Sachs Asset Management (GSAM)
, where he was responsible for that firm's legal matters related to mutual funds since 2012. From March of 2011 to October 2012 he was a partner Morgan Lewis & Bockius'
investment management practice.
Donohue was the SEC's head of the Division of Investment Management from May 2006 to December 2010.
Stay ahead of the news ... Sign up for our email alerts now