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Goldman exec named first COO of SEC enforcement
A Goldman Sachs executive has been named the first chief operating officer of the Securities and Exchange Commission's enforcement division.
The market watchdog agency said Friday that Adam Storch, vice president in Goldman Sachs' Business Intelligence Group, is assuming the new position of managing executive of the SEC division.
The move came as the SEC has been revamping its enforcement efforts following the agency's failure to uncover Bernard Madoff's massive fraud scheme for nearly two decades despite numerous red flags.
Storch, who will be responsible for project management and operations, will report to SEC Enforcement Director Robert Khuzami.
Along with the enforcement division's deputy director, Storch also will supervise the SEC's Office of Market Intelligence, with an eye to improving the monitoring, collection and analysis of the hundreds of thousands of tips and complaints the agency receives annually.