Paul Roye has found his post SEC opportunity. The former head of the SEC's investment management division resigned earlier this year to explore opportunities in private practice. Rather than go back to a law firm, he has decided to become more directly involved in the fund industry.

Monday the Capital Group, parent of American Funds, confirmed that Roye has joined it as a senior vice president. Roye will start at the firm on May 9 and work from its Washington office before eventually making the move to Los Angeles. He reports directly to Paul Haaga Jr., chairman of the Capital Group's executive committee.

Roye worked for Haaga once before. In 1982, he joined the Washington, D.C. office of Dechert Price & Rhoads, where Haaga was a partner, as an associate. At that time he was also leaving the SEC's division of Investment Management, where he was a staff member, for opportunities in private practice. While at Dechert Roye became a partner and a member of the firm's Financial Services, Investment Management and Corporate Securities Practice Group.

Meyer Eisenberg, the SEC general counsel, has taken over Roye's duties at the SEC on an interim basis until Chairman William Donaldson names a permanent replacement.

Roye will focus on providing legal and compliance advice at Capital Group, including working with independent fund directors at American Funds.  

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