Pick for Top Wall Street Cop Has Defended Bank Execs

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March 7, 2013

The leading candidate for the job of chief of enforcement at the Securities and Exchange Commission (SEC) formerly defended JPMorgan and a chief executive of Bank of America, according to a New York Times article.

Andrew J. Ceresney is the top candidate for the enforcement chief position once Mary Jo White is confirmed as head of the SEC. Ceresney has long  been White’s lieutenant and has followed a similar path from government to Wall Street and back.

From the New York Times article:

After working at the United States attorney’s office in Manhattan, he built a lucrative legal practice at Debevoise & Plimpton. At the firm, he represented the likes of Kenneth D. Lewis, former chief executive of Bank of America who faced regulatory investigations over the bank’s hasty takeover of Merrill Lynchduring the depths of the financial crisis.

Mr. Ceresney, who defended JPMorgan from federal inquiries into wrongful foreclosure practices, also worked side by side with clients under scrutiny for selling troubled mortgage securities at the height of the housing boom.

Read more about Ceresney and the new team that will enforce financial regulations at The New York Times. 

Topics: Financial Sector

Related Content: Conflicts of Interest, Financial Oversight, Revolving Door, Securities and Exchange Commission

Authors: Andre Francisco

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