Khuzami Departs, Leaving the SEC in Better Shape

Soon after Mary Schapiro, former chairman of the Securities and Exchange Commission, took office in 2009, she called Robert Khuzami, a former federal prosecutor who was then an attorney at Deutsche Bank, and asked him if he was interested in running the agency’s enforcement division.
Khuzmai could have politely declined, and nobody would have held it against him. The SEC enforcement division was in shambles. It had failed to uncover hedge fund manager Bernie Madoff’s Ponzi scheme as it metastatized under the nose of its investigators. Morale in the division was at an historic low. Even so, Khuzami took the job. He told me last year that he saw it as a “once in a lifetime opportunity.” More on Bloomberg here.