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News January 24, 2005 Issue

Chairman Donaldson’s Looking for a Lawyer

The revolving door is swinging in SEC Chairman William Donaldson’s office. Remember the trio of managers Donaldson brought on when he joined the Commission? Two out of the three have left: Laura Cox, Donaldson’s former "Managing Executive for External and Governmental Affairs," departed last month. Patrick Von Bargen, Donaldson’s "Managing Executive for Policy and Staff," announced last week that he will be leaving by the end of February.

However, Donaldson has created a new position and is recruiting a lawyer for the role. His "Managing Executive for Policy" will provide "ongoing high level counsel and legal advice" to the SEC Chairman. The person will function "completely independent of any other advisory or formal system available to other Commissioners and staff."