It’s promotion time at the Securities and Exchange Commission (SEC).
SEC enforcement attorneys Julie Riewe and Marshall Sprung have been promoted to serve as the deputy chiefs of the agency’s asset management unit, which works on investigations into mutual funds and hedge funds. The SEC formed the specialized unit in 2010 after it failed to detect Bernie Madoff’s infamous Ponzi scheme.
Riewe and Sprung’s promotions come after the departure of Robert Kaplan, who was co-chief of the unit with Bruce Karpati. Last week, Kaplan announced he was leaving the SEC to work for Debevoise & Plimpton. Karpati, who will remain with the SEC, will oversee the whole unit.
Sprung has worked for the SEC in Los Angeles since 2003. Prior to joining the agency, he was a litigation associate at Gibson, Dunn & Crutcher. Riewe has worked for the SEC in Washington, D.C., since 2005 and previously was a litigation associate at Wilmer Cutler Pickering Hale and Dorr.