The Securities and Exchange Commission (SEC) has put a new cop on the investment management beat who is wise to the ways of the Street. Norm Champ, a regulator with deep hedge fund experience, has been appointed director of the SEC’s Division of Investment Management, succeeding retiring division head Eileen Rominger.
Champ (left), who starts his new job in the coming week, will be responsible for oversight of investment companies including mutual funds and investment advisors.
In a statement, SEC Chairman Mary Schapiro said, “Norm has proven himself to be a natural leader and an expert at managing programs that bolster our financial markets and protect investors.”
Champ, whom AdvisorOne was unable to reach Friday, brings broad experience in law, administration and asset management industry experience to bear on his new position.
From 2010, when he joined the SEC until now, he has served as deputy director of the SEC’s Office of Compliance Inspection and Examinations, where he supervised broker-dealer, investment advisor and credit rating agency exam programs.
Prior to that, he served 10 years as general counsel for Chilton Investment Co., an SEC-registered advisor to hedge funds and managed accounts based in Stamford, Conn. Earlier in his career he was a lawyer at Davis Polk & Wardwell and clerked for U.S. District Court judge Charles Haight Jr. in the Southern District of New York.