MutualFundWire.com: SEC Brings in a Goldman Exec
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Friday, October 16, 2009|
SEC Brings in a Goldman Exec
The SEC has brought on board Adam Storch to fill the newly created role of chief operating officer and managing executive of the enforcement division. Storch started at the commission this week and reports to the division's director, Robert Khuzami.
As part of his duties, Storch will oversee product management and workflow relating to the collection and distribution of Fair Funds. He will also assist deputy director Lorin Reisner in the supervision of the Office of Market Intelligence.
“Adam's skill in technology systems, workflow process, and project management will greatly benefit the Division, including in the critical areas of the distribution of Fair Funds to harmed investors and the processing and analysis of complaints, tips, and referrals,” stated Khuzami. “He will help to make us more efficient and nimble and permit us to put more of our investigators on the front lines to detect and stop fraud.”
Most recently, Storch worked at Goldman Sachs as vice president in the business intelligence group.
Earlier, Storch worked as a senior consultant at Deloitte & Touche.
Company Press Release
Washington, D.C., Oct. 16, 2009 – The Securities and Exchange Commission today announced that Adam Storch has been named to the newly-created position of Managing Executive of the SEC’s Division of Enforcement.
In his role, Mr. Storch will act as the Enforcement Division’s first-ever chief operating officer. He will report to Robert Khuzami, the Director of the Division, who created the position as part of a restructuring he announced earlier this year.
Mr. Storch will be responsible for project management and workflow for various infrastructure and operational aspects of the Division, including budget, information technology, and administrative services. In addition, he will oversee the workflow and process associated with the collection and distribution of Fair Funds to harmed investors. Along with Lorin Reisner, the Deputy Director of the Division of Enforcement, Mr. Storch will supervise the Office of Market Intelligence, improving the collection, analysis, risk-weighing, triage, referral, and monitoring of the hundreds of thousands of tips, complaints and referrals that the agency receives each year.
Mr. Storch joins the SEC from Goldman Sachs & Co., where he was Vice President in the Business Intelligence Group.
“Adam’s skill in technology systems, workflow process, and project management will greatly benefit the Division, including in the critical areas of the distribution of Fair Funds to harmed investors and the processing and analysis of complaints, tips, and referrals,” said Khuzami. “He will help to make us more efficient and nimble and permit us to put more of our investigators on the front lines to detect and stop fraud.”
Mr. Storch said, “I am honored to join the SEC at this crucial time. I look forward to working with the talented and dedicated staff of the SEC.”
Before joining Goldman Sachs, Mr. Storch was a Senior Consultant focusing on enterprise risk services at Deloitte & Touche, LLP. Mr. Storch is a Certified Public Accountant in New York State, a Certified Internal Auditor, and a Certified Fraud Examiner. He received his MBA from New York University’s Leonard N. Stern School of Business, and his B.S. in Business Administration summa cum laude from the SUNY Buffalo School of Management.
The restructuring seeks to reduce bureaucracy and expedite the enforcement process by eliminating unnecessary process, streamlining procedures, and rebalancing the Division’s investigative staff by reducing management levels and reassigning those experienced personnel to full-time investigative work. In addition, the newly-structured Division will include specialized units that will enable staff in those units to develop expertise in priority areas and utilize that expertise to help detect earlier and more often the patterns, links, trends, and motives connected to fraud and wrongdoing.
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