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Friday, August 4, 2017

Grim Departs

News summary by MFWire's editors

The chief of the SEC unit that focuses on asset managers is leaving the regulatory agency next month, and no one has yet been named to fill his shoes.

Yesterday SEC Chairman Jay Clayton confirmed that David Grim, director of the SEC's division of investment management, will leave in September. InvestmentNews and Reuters covered the news.

Official word of Grim's departure comes two months after reports that Dalia Blass, a Ropes & Gray attorney and 12-year veteran of the SEC's investment management division, was likely to be brought back by Clayton to take Grim's place atop the division. Yet Clayton's statement yesterday makes no mention of who will succeed Grim.

Grim, a Duke University and George Washington University alumnus, is a 22-year SEC veteran. He joined in 1995 in the investment management division, rising to deputy director in 2013. He took over the division as acting director in February 2015, and then-Chair Mary Jo White made Grim's promotion permanent three months later. 

Edited by: Neil Anderson, Managing Editor

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