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Friday, February 18, 2005

Roye to Quit SEC Post

by: Theresa Sim

Paul F. Roye, director of the SEC's division of investment management, will leave the agency within a few weeks, the SEC announced on Friday.

The SEC did not announce a replacement. John Nester, SEC spokesman, confirmed that no other personnel changes would result related to Roye's move.

Roye will "pursue opportunities in the private sector," said the release. Roye's history with the SEC dates back to 1979, when he first joined the division of investment management. Roye left the SEC to join Dechert in 1982, and remained there until rejoining the SEC as director.

"Nearly a year ago, Paul informed me that he was considering leaving the Commission. At that time, I asked him to stay in order to assist the Commission with its mutual fund reform agenda Paul has served as head of the Division of Investment Management at a critical time in the history of the investment management industry. He will leave a strong and lasting legacy," said SEC Chairman William Donaldson.  

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