Susan Ferris Wyderko has been named acting director of the division of investment management for the Securities and Exchange Commission, overseeing mutual funds and investment advisors, the Federal agency announced late last week.
Wyderko, a 20-year SEC veteran who most recently worked as the SEC's director of the office of investor education and assistance, replaces Paul Roye, who resigned in early 2005.
"Susan's dedication to the interests of individual investors is unmatched, which is especially vial considering more than half of American households own mutual funds," said SEC Chairman Christopher Cox.
Wyderko will fill one of the three vacant major management posts at the SEC. The SEC has four major divisions. Besides Roye, who left for the private sector, Alan Beller, director of the corporate finance division, announced this week that he, too, will leave. Annette Nazareth, former director of the market regulation, became an SEC commissioner last summer, leaving her post open. Linda Thomsen leads the enforcement division.
Geraldine Walsh, Wyderko's former deputy, will run the office of investor education and assistance in Wyderko's absence.
Wyderko came to the SEC in 1985 from Miller & Chevalier, Chartered, a Washington law firm. During her tenure with the SEC, Wyderko has worked as director of the office of legislative affairs, and general counsel to former Chairman Arthur Levitt. Wyderko also served as assistant general counsel to the Commission.