Mary L. Schapiro, the former chairwoman of the U.S. Securities and Exchange Commission (SEC), has crossed over to the private sector to become a managing director at New York-based Promontory Financial Group. She will also chair the company's governance and markets practice.
Schapiro chaired the SEC from 2009 to 2012, and was the first woman to hold that title. She is also the only person to have chaired both the SEC and the Commodity Futures Trading Commission.
Schapiro will be based in Promontory's Washington, D.C., office. According to the company, she will ‘work with clients to ensure that the quality of corporate governance is commensurate with the demands of running modern public companies.’
‘Mary is an outstanding advocate for investors and was a strong and decisive regulator during one of the most volatile periods in our financial history,’ says Promontory Founder and CEO Eugene A. Ludwig. ‘Her profound understanding of the U.S. and global financial markets, decades of regulatory leadership, and deeply relevant perspective and insight will add to our already significant involvement in capital markets, hedge fund and private equity advisory and compliance services. We are thrilled that Mary has chosen to join us at Promontory.’