Andrew Bowden has been named director of the U.S. Securities and Exchange Commission's Office of Compliance Inspections and Examinations.
Previously the general counsel of Legg Mason Capital Management, Bowden joined the SEC in 2011 and became deputy director of the office last year.
The compliance office's 900 employees - many of them scattered among 11 regional offices - conduct examinations and inspections of registered entities such as broker-dealers, investment companies and the national securities exchanges.
In February, the office said its priorities for 2013 will be uncovering and preventing fraud; looking at how companies manage financial, legal, compliance, operational and reputational risks; watching for conflicts of interest and focusing on new trading technologies, including the risk of system outages and data integrity compromises.
“Drew has shown true leadership overseeing our investment adviser/investment company examination program and serving as deputy in the office," said Mary Jo White, chair of the SEC, in a news release. "During his time here, he has earned the trust and confidence of his colleagues, our regulatory partners, and the industry. His dedication, judgment, and leadership will serve him well as he takes on his new post leading an aggressive, effective examination program.”
Bowden replaces Carlo di Florio, who will depart later this month to lead a new division of risk and strategy at the Financial Industry Regulatory Authority.