SEC exam boss tapped to ride herd on investment industry

Norm Champ has been named director of the SEC's Division of Investment Management, one of the top jobs with jurisdiction over investment advisers, as of Monday. Mr. Champ, who has been deputy director of the Security and Exchange Commission's Office of Compliance Inspections and Examinations and led the creation of the OCIE's first Examination Manual, will replace Eileen Rominger. Ms. Rominger announced last month that she will retire from the role she's only held since February 2011. Before Mr. Champ joined the commission's staff in 2010, he was general counsel of Chilton Investment Co. LLC for a decade and a member of the executive committee of the firm, which is an adviser to private funds and managed accounts. “Norm has proven himself to be a natural leader and an expert at managing programs that bolster our financial markets and protect investors,” said SEC Chairman Mary Schapiro in a statement. “His breadth of experience and deep insight into so many aspects of the securities industry will well serve investors and the agency.” Mr. Champ said in the same statement, “I am honored to join the Division and continue to carry out the SEC's missions of protecting investors and encouraging capital formation.”