The top lawyer of Goldman Sachs Group Inc.'s asset management unit is leaving the bank to become the top aide to U.S. Securities and Exchange Commission (SEC) Chair Mary Jo White, the agency said Thursday.
Andrew "Buddy" Donohue returns from Wall Street to the agency where he previously served as head of investment management regulation from 2006 to 2010. His appointment adds an industry veteran to White's staff as the agency fends off questions from other regulators about whether its oversight of the asset management industry is sufficient.
"Buddy is a seasoned professional whose previous SEC and private-sector experience will be invaluable in advancing all aspects of the agency's mission," White said in a statement. "His deep knowledge of asset management will be especially useful as the commission advances its rulemaking agenda for addressing potential risks in asset management and considers a uniform fiduciary standard."
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