Although William Donaldson is running out of time to name a replacement for Paul Roye, the SEC chief is not finding much luck, reports the Wall Street Journal.

Unnamed sources familiar with the matter told the WSJ that Donaldon's first pick to replace Roye, the head of investment management at the SEC, has turned down the offer, many times.

That man is reportedly Harry Hopkins, T. Rowe Price's chief counsel. Judith Burns of the WSJ writes that Donaldson wants to tap a fund industry insider for the position, as opposed to a fund attorney working at a firm.

The SEC chief has a list of six or so candidates, including Heidi Stam of Vanguard and Thomas Lemke of Legg Mason, reported the WSJ. A few attorneys working in private practice that may be on the list include Diane Ambler from Kirkpatrick & Lockhart, Kenneth Berman from Debevoise & Plimpton and Jack Murphy of Dechert.

Another temporary option may be for Donaldson to name an SEC insider to take over the spot, reports the WSJ.  

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