Sunday, October 18, 2009

SEC Names 29-Year-Old Goldman VP as Its COO

I thought it was a joke at first.

Goldman Exec Named First COO of SEC Enforcement
(10/16/2009 AP via NY Times)

"WASHINGTON (AP) -- 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." (You can read the rest of the article by following the link above.)

AP's article doesn't say how old Mr. Storch is. But Bloomberg's article does, which says he is 29-year old. But Business Insider dug deeper than AP or Bloomberg, and they came up with a very youthful photograph of Mr. Storch at this link:

FOUND: Photo of Adam Storch, 29-Year-Old Goldman Guy Who Is Now COO Of The SEC (John Carney, 10/16/09 Business Insider)

If your confidence in SEC is inspired by looking at the photo, please let me know. I will sell you Golden Gate Bridge.


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