Mary Schapiro, the former chairman of the U.S.
Securities and Exchange Commission, has joined Promontory Financial Group as a
managing director and chairman of its governance and markets practice, the firm
announced today. Promontory is a strategy, risk-management, regulatory, and
compliance consulting firm that serves clients worldwide, including many of the
largest banks and other financial services companies.
Mary Schapiro, former U.S. Securities and Exchange Commission chairman, joined
Promontory Financial Group as a managing director and director of the governance
and markets practice.
Ms. Schapiro was SEC chairman from 2009 to 2012. She was the first woman to serve as SEC chairman and the only person to have served as chairman of both the SEC and the Commodity Futures Trading Commission. Ms. Schapiro presided over one of the busiest rule-making agendas in the SEC's history. During her tenure the agency also brought a record number of enforcement actions and executed a comprehensive restructuring program to improve protection for investors.
"Mary is an outstanding advocate for investors and was a strong and decisive regulator during one of the most volatile periods in our financial history," said Promontory Founder and CEO Eugene A. Ludwig. "Her profound understanding of the U.S. and global financial markets, decades of regulatory leadership, and deeply relevant perspective and insight will add to our already significant involvement in capital markets, hedge fund and private equity advisory and compliance services. We are thrilled that Mary has chosen to join us at Promontory."
"The risk environment for firms in today's global markets is increasingly complex," Ms. Schapiro said. "Managing those risks while balancing the interests of the many constituencies of a modern corporation challenges practices of corporate governance, regulatory policy and market behavior. While regulators are charged with policy making in these areas, the private sector - especially investors - has the largest stake. At Promontory I join a team of highly experienced professionals who work with clients to meet regulatory and investor expectations while advancing the evolving norms for corporate governance and regulatory compliance. This is important not only to companies, but also to our markets and to global prosperity. I look forward to working with my new colleagues and with our clients."
In her practice at Promontory, Ms. Schapiro will work with clients to ensure that the quality of corporate governance is commensurate with the demands of running modern public companies. She will also advise clients on risk management, drawing on insights and understanding gleaned from her deep regulatory experience as well as on her service on boards of directors of major American corporations.
Ms. Schapiro will be based in Promontory's Washington, D.C., office.
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