The US Securities and Exchange Commission has seen two more departures today, its third senior level move this month, as the regulator’s upper ranks continue to undergo a change.
Wenchi Hu, the SEC’s Associate Director in the Division of Trading and Markets, and Marc Wyatt, Director of the Office of Compliance Inspections and Examinations, will both be parting ways with the regulator in early February, according to a regulatory filing.
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Ms. Hu has been the Head of the SEC’s Office of Clearance and Settlement Supervision since August 2015, having previously worked as its Associate Director. In this capacity she has helped oversee a number of key Clearing agency initiatives.
She originally joined the SEC in 2011 as a Senior Special Counsel in the group’s Office of Compliance. This paved the way for a role as the Assistant Director in the SEC’s Office of Clearance and Settlement Supervision in 2013. Previous roles include a stint as the Managing Director and Senior Counsel at Rabobank.
Mr. Wyatt will also be parting ways with the regulator, having joined the group in 2012. He has worked as a Senior Specialized Examiner and he co-founded the Private Fund Unit within the Office of Compliance Inspections and Examinations.
He has previously served as the agency’s Director since 2015, as well as a Principal and Senior Portfolio Manager in the hedge fund space. The departure of Mr. Wyatt will see Pete Driscoll, the Office of Compliance Inspections and Examinations Chief Risk Officer, elevated to the role of acting director.
Earlier this month, the SEC also saw a key departure, with its Chief Operating Officer (COO) Jeffery Heslop also announcing his intention to leave the agency in February. Mr. Heslop will be succeeded by Kenneth Johnson, the SEC’s acting Chief Financial Officer.
