Robert Khuzami and the Securities and Exchange Commission's enforcement division have a new chief operating officer, according to Bloomberg News. Adam Storch, a 29-year-old former Goldman Sachs manager, joined the SEC staff Tuesday, and the agency announced his new post in a statement Friday. His primary task will be to make the division more efficient.
Enforcement chief Khuzami is quoted as saying:
Adam's skill in technology systems, workflow process, and project management will greatly benefit the division. He will help to make us more efficient and nimble and permit us to put more of our investigators on the front lines.
Since 2004, Storch had worked in a Goldman Sachs unit that "reveiwed contracts and transactions for signs of fraud," the story says.
Commenting on the appointment, The Huffington Post reports, "For those who've lamented the various links between Goldman Sachs and the financial regulatory system, this certainly isn't good news."