SEC searches for asset management assistant director

The US Securities and Exchange Commission (SEC) has launched a search for a new assistant director in the Division of Enforcement's Asset Management Unit, following the promotion of Anthony Kelly to co-chief of the unit last month.

The SEC is opening up Kelly’s former position to current SEC enforcement employees only.

Kelly has co-headed the unit since March alongside Marshall Sprung who succeeded Julie Riewe when she left the agency in February.

This week, the SEC announced that Sprung is planning to leave the agency later this month after 13 years of service. Kelly will continue to lead the unit following his departure, according to a statement from the SEC.

It is unclear where Sprung is headed next. He did not return a request for comment.

Kelly joined the SEC in 2000 and during his tenure he has been involved in a number of cases. He helped to secure a $39 million settlement with three private equity fund advisers within The Blackstone Group for their failure to properly disclose accelerated monitoring fees.

The assistant director will work under the direction of the head of the Office of Market Intelligence and will manage and coordinate the work of teams which includes attorneys, accountants, market surveillance specialists, experts and support staff, according to the job posting on usajobs.gov.

The candidate will also be expected to supervise staff members who interact with the public and evaluate complaints and other allegations of potential misconduct related to federal securities laws, rules and regulations.

The SEC is offering an annual salary of between $145,902 – $237,700, depending on the candidate’s qualifications, alongside a number of enhanced pay and benefits plus the standard federal benefits, according to the job posting.