The Securities and Exchange Commission has appointed Andrew M. Calamari to lead its New York office, a hub for many of the agency's biggest Wall Street enforcement cases.
Mr. Calamari, a 12-year veteran of the office, has been acting director since the summer. He took over for George Canellos, who was named to the agency's No. 2 enforcement spot in Washington.
“I have been so privileged these past 12 years to be able to work with the remarkably dedicated and talented enforcement and exam staff of the New York office,†Mr. Calamari said in a statement on Wednesday. “To now have the opportunity to serve as director of this great office is an honor, and I am excited about the work we will do together in the years ahead.â€
Mr. Calamari, who also spent 15 years in private legal practice, will oversee some 400 lawyers, investigators and accountants in New York. The office, in downtown Manhattan across the street from Goldman Sachs, polices the biggest na mes on Wall Street. More than 4,000 banks, mutual funds and hedge funds come under its purview.
Until now, Mr. Calamari helped run the New York office's enforcement effort. The unit has produced some of the agency's signature investigations, including the insider trading case against the hedge fund manager Raj Rajaratnam and the S.E.C.'s accounting fraud case in 2006 against American International Group.
The office, however, was blamed in part for missing Bernard L. Madoff's giant Ponzi scheme. Under Mr. Calamari, the division is now leading the S.E.C.'s investigation into JPMorgan Chase's trading loss.
“His tough but fair approach has won the respect of his colleagues,†said Robert Khuzami, the S.E.C.'s enforcement director. He added that Mr.Calamari's “excellent judgment and strong leadership make him ideally suited to lead the New York regional office.â€
