John Ramsay, the deputy director for the SEC’s trading and markets division, was named as acting director for the division on Monday.
Ramsay will replace Robert Cook, who announced that he plans to step down from his position after a short transitional period.
Since September 2010, Ramsay, who played a key role in the advancement of the 2010 Dodd-Frank Act, has supervised broker-dealer financial responsibility, risk oversight and clearance and settlement functions.
“John has a wealth of experience to draw upon and a firm grasp of the intricacies of issues,” Elisse Walter, the chairman of the SEC, said. “He is well-positioned to oversee the division as we continue to further bolster the markets and ensure they operate fairly and efficiently.”
Ramsay worked at the SEC from 1989 to 1994 in various positions, including as counsel to former commissioner Mary Schapiro. Ramsay has also served on the CFTC and the National Association of Securities Dealers, now known as the Financial Industry Regulatory Authority.
Additionally, Ramsay was a partner at law firm Morgan Lewis and Bockius, a senior vice president of the Bond Market Association, now known as the Securities Industry and Financial Markets Association, and as the managing director and deputy general counsel at Citigroup Global Markets.
Ramsay holds a J.D. from the University of Michigan and graduated summa cum laude from the University of Texas-Austin in 1981.
“I’m pleased to have the chance in this role to support Chairman Walter and the other commissioners and to carry forward the vital work of the division that [Cook] and my colleagues here have done so much to advance,” Ramsay said. “This is an extraordinary time for the division and our markets, and I work with an extraordinary group of people.”