The Securities and Exchange Commission has tapped Susan Ferris Wyderko as acting director of its investment management division, which oversees mutual funds and investment advisers.

Wyderko takes over from Meyer Eisenberg, who announced in December that he is retiring from the commission this month to accept a post at the Williamette University College of Law. Eisenberg served as the division’s acting head since April 2005, replacing Paul Roye, who had resigned in February.

Wyderko, a 20-year veteran at the commission, was most recently director of the office of investor education and assistance.

She had held several senior posts at the SEC, among them director of the office of legislative affairs and acting director of public affairs. She had also served as a counsel to former SEC Chairman Arthur Levitt and assistant general counsel at the commission.

"Susan’s dedication to the interests of individual investors is unmatched, which is especially vital considering more than half of American households own mutual funds," said SEC Chairman Christopher Cox in a statement. "I am delighted that she has agreed to serve as acting director during this interim period."

Geraldine Walsh, deputy director of the office of investor education and assistance, will serve as the office’s acting director while Wyderko is assigned to the investment management division. 

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