For the past four years, Elisse Walter has served diligently as a commissioner at the Securities and Exchange Commission. But compared to the scope of the responsibilities she took on in December, as the agency’s next chairman, “I thought I’ve been on vacation,” she joked.
Although Walter’s term as a commissioner has technically expired, by law she can continue to serve in this role until next December. Many securities lawyers speculate that President Barack Obama will appoint a new chair before then, and they flag Richard Ketchum, head of the Financial Industry Regulatory Authority, and Sallie Krawcheck, a former Bank of America executive, as potential successors. Walter could also be appointed for another term and be tapped to stay put.
