President Bush intends to nominate William H. Donaldson to replace Harvey Pitt as Chair of the SEC. Donaldson is a cofounder of Donaldson, Lufkin & Jenrette and was Chairman and CEO of the New York Stock Exchange from 1990 until 1995.

He was most recently chairman of Aetna. He left the post last year.

Donaldson, 71, was CEO of Donaldson Enterprises from 1981 until the founding of DLJ. He was also founder a founder of Yale University's Graduate School of Management and was the school's first dean and held a tenured professor from 1975 to 1980.

His first job on Wall Street was at G.H. Walker & Co., which was run by Herbert Walker. President George Herbert Walker Bush is a nephew of Walker. He also was a classmate of Jonathan Bush, brother of the elder President Bush at Yale University. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE