New SEC Hire (COO) Forum

[Anonymous User]

Saw this article on bloomberg, just curious if anyone knows anything about this. Obviously I don't know the guy's background, so it must be impressive, i am just a little taken back to see a 29-yr old hired as COO of an agency that is in serious need of re-vamping. As an aside, isnt the SEC cutting back big time on their summer program?

SEC Said to Hire Goldman’s Storch for Enforcement
Oct. 16 (Bloomberg) -- The U.S. Securities and Exchange Commission hired Adam Storch, a 29-year-old former employee in Goldman Sachs Group Inc.’s business intelligence unit, as the enforcement division’s first chief operating officer, according
to people familiar with the decision.
The COO, who started Oct. 13, has “a great deal of background” in technology and managing processes and the pace of work, Robert Khuzami, head of enforcement, said yesterday in Washington. Storch, who worked since 2004 in a unit at Goldman
Sachs that reviewed contracts and transactions for signs of fraud, will be charged with making the unit more efficient. Storch, reached by telephone at the SEC, declined to comment.
Khuzami announced the position in August as part of the unit’s biggest overhaul in three decades. He is taking steps to add front-line investigators, speed inquiries and create specialized units after the agency was faulted for missing Bernard Madoff’s $65 billion fraud.
Storch holds degrees in accounting and finance from the State University of New York at Buffalo and studied at New York University’s Leonard N. Stern School of Business. He has certifications in accounting, fraud examination and auditing.
Prior to joining Goldman Sachs, Storch was a senior analyst at accounting firm Deloitte & Touche and an intern at Neuberger Berman LLC, a New York-based asset management firm.
Khuzami has created specialty units of investigators and is giving people more incentive to cooperate with investigations. The five groups will investigate cases in asset management,
structured products, municipal securities and public pensions, foreign corrupt practices and market abuse, Khuzami said in an Aug. 5 a speech in New York.

[hypermeganet]

Brian Cashman worked out alright.

[Anonymous User]

He is young but he seems to have a lot of background in what he's going to be doing. The article likely made a mistake in saying that he was a senior analyst at D&T accounting. That position is on the consulting side of Deloitte.

He's obviously a smart guy, I'm just wary as to how much practical experience you can get working at a consulting firm and an investment bank for 7 years and then hopping into a position at the SEC of this caliber.

[Anonymous User]

He is young but he seems to have a lot of background in what he's going to be doing. The article likely made a mistake in saying that he was a senior analyst at D&T accounting. That position is on the consulting side of Deloitte.

He's obviously a smart guy, I'm just wary as to how much practical experience you can get working at a consulting firm and an investment bank for 7 years and then hopping into a position at the SEC of this caliber.

that was kind of my point...i mean great for him, and i'm sure the SEC knows what it's doing (not sure if i'm being sarcastic here), but when you are so young/have such little experience that they have to list your internships as part of your work experience, it gets me to thinking

oh well, it doesnt seem like many have interest in this, but i thought it was rather interesting, considering the SEC is cutting back on their summer hiring...just seems like they are going in two different directions