The SEC has promoted two enforcement attorneys to serve as deputy chiefs of its asset management unit, which investigates mutual funds and hedge funds, as reported in Reuters.

These appointments follow last week's departure of the unit's co-chief, Rob Kaplan, for a job at Debevoise and Plimpton.

New deputy chiefs Julie Riewe and Marshall Sprung will report to Kaplan's former co-chief, Bruce Karpati, who will oversee the whole unit.

Karpati told the newswire, "Julie and Marshall have been with the unit since day one and have been a key part of its success."

The task of the specialized asset management unit is to investigate cases filed against mutual funds and private funds. It was created in 2010 in an SEC shakeup as a response to the agency's failure to detect Bernie Madoff's Ponzi scheme.  

Edited by: HFD


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