Mary Schapiro, former chairwoman of the Securities and Exchange Commission, has joined Promontory Financial Group as a managing director and chairwoman of its governance and markets practice.
The consulting firm, founded by former Comptroller of the Currency Eugene Ludwig, also includes among its advisory board another former SEC chairman, Arthur Levitt, and bills itself as 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 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 Ludwig, in a Tuesday statement. "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."
Schapiro, who was SEC chairwoman from 2009 until December, said in the same statement that "the risk environment for firms in today's global markets is increasingly complex. 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."
