The Securities and Exchange Commission (SEC) has appointed Eileen Rominger (left) as its new Director of Investment Management, replacing Andrew “Buddy” Donohue, who left the post in November 2010. Rominger will start at the agency in February.
As head of the SEC's investment management division since 2006, Donohue led the SEC's efforts in implementing rules to improve oversight of money market funds, increase investment advisor custody controls, and curtail investment advisor "pay-to-play" abuses.
Rominger has served for the past 11 years in various positions at Goldman Sachs Asset Management, with her most recent position serving as the firm’s global chief investment officer. Prior to Goldman Sachs, Rominger worked for 18 years at Oppenheimer Capital, where she was a portfolio manager, managing director, and a member of the Executive Committee.
“Eileen brings the agency a lifetime of experience in the asset management industry and a record of strong leadership,” said SEC Chairman Mary Schapiro (left), in a statement. “She understands the importance of the nation’s investment management industry to the well-being of investors everywhere.”
Rominger said in the same statement that “the investor protection mission of the SEC has never been more important. Retirement and other important financial needs loom large for millions of Americans, even as investment choices increase in number and complexity. I’m honored to have the opportunity to lead the Investment Management Division and its talented staff as they drive their critical agenda of transparency and integrity in the industry.”
Rominger, 56, received a BA in English from Fairfield University and an MBA in Finance from the Wharton School of Business at the University of Pennsylvania.