(Bloomberg) Mary Jo White, who gained prominence prosecuting terrorists as U.S. attorney for Manhattan, will be named by President Barack Obama to be chairman of the Securities and Exchange Commission, according to a White House statement.

White, a partner at law firm Debevoise & Plimpton LLP in New York, would succeed Elisse Walter, who took over as SEC chairman when Mary Schapiro stepped down last month. Obama, who is scheduled to make the announcement today at 2:30 p.m. in the White House, also will re-nominate Richard Cordray as director of the Consumer Financial Protection Bureau.

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