Pitt looks a certainty for SEC top slot

It is understood representatives, including legal partner Nick Holt, have engaged in discussions, even though Pitt’s appointment is still to be confirmed.The revelation is a clear sign the SEC will appoint Harvey Pitt, a corporate lawyer, hand picked by the Bush administration, to become the next chairman.

A formal announcement has yet to be made, but an SEC spokesman told the appointment is likely ‘in a matter of weeks’.

No date has yet been set for the Senate hearing for the appointment to be announced, but Laura Unger, who has been acting chairman since February, has issued a statement giving her full support for Pitt’s appointment.

‘I have the highest regard for Harvey both personally and professionally,’ she said.

Pitt served as general counsel at the SEC in the 1970s under Jimmy Carter and when his appointment is confirmed, will succeed Arthur Levitt who resigned in February this year.

The post requires that the candidate sever all financial ties with investment banks and brokers. The £92,700 salary is considered low, and many initial candidates have withdrawn from the running.


Bush chooses lawyer to head SEC

Lawyer favourite to take reins at SEC

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