Susan Ferris Wyderko was named on January 12 the Acting Director of the SEC's Division of Investment Management, which oversees advisors and mutual funds. She fills the spot of the previous Acting Director Meyer Eisenberg, the SEC's deputy general counsel, who left the SEC a few weeks ago to teach at Columbia Law School. Eisenberg was the temporary replacement for Paul Roye, the division's former director who left last February. Roye is now a senior VP at Capital Research & Management Co., the parent company of the American Funds mutual fund group.
Industry officials say Wyderko's stint as acting director will be likely be short-lived. When SEC Chairman Christopher Cox will name a permanent replacement for Roye remains unclear.
Wyderko has been with the SEC for 20 years, and since March 2000, has served as the Director of the Office of Investor Education and Assistance. In that position she was "principally responsible for the Commission's outreach to individual investors, ensuring that their problems and concerns are known throughout the Commission and considered when the agency takes action," according to the SEC release announcing her appointment.
Other senior positions Wyderko has held at the SEC include Director of the Office of Legislative Affairs and Acting Director of Public Affairs. She also previously served as a Counsel to Chairman Arthur Levitt and as an Assistant General Counsel at the Commission with responsibility for filing Commission briefs with the Courts of Appeals and the Supreme Court.