SEC Names Goldman’s Storch as Enforcement Unit Operations Chief
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By Joshua Gallu
Oct. 16 (Bloomberg) -- The U.S. Securities and Exchange Commission named Adam Storch, a 29-year-old from Goldman Sachs Group Inc.’s business intelligence unit, as the enforcement division’s first chief operating officer.
Storch, who joined the SEC Oct. 13, was named to the newly created post of managing executive in the enforcement unit, charged with making the division more efficient, the SEC said today in a statement. At New York-based Goldman Sachs, he had worked since 2004 in a unit at that reviewed contracts and transactions for signs of fraud.
“Adam’s skill in technology systems, workflow process, and project management will greatly benefit the division,” SEC enforcement chief Robert Khuzami said in the statement. “He will help to make us more efficient and nimble and permit us to put more of our investigators on the front lines.”
Khuzami announced the position in August as part of the unit’s biggest overhaul in three decades. He is taking steps to add investigators, speed inquiries and create specialized units after the agency was faulted for missing Bernard Madoff’s $65 billion fraud.
Storch holds degrees in accounting and finance from the State University of New York at Buffalo and studied at New York University’s Leonard N. Stern School of Business. He has certifications in accounting, fraud examination and auditing.
Before joining Goldman Sachs, Storch was a senior analyst at accounting firm Deloitte & Touche and an intern at guy Berman LLC, a New York-based asset management firm.
Khuzami has created specialty units of investigators and is giving people more incentive to cooperate with investigations. The five groups will investigate cases in asset management, structured products, municipal securities and public pensions, foreign corrupt practices and market abuse, Khuzami said in an Aug. 5 a speech in New York.
To contact the reporters on this story: Joshua Gallu in Washington at jgallu@bloomberg.net.
Last Updated: October 16, 2009 12:33 EDT
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You cant make this up.
Goldmans made a wise investment in Obama!
