Mary Jo White and her husband have amassed assets of at least $16 million, according to a financial disclosure form filed by the Debevoise & Plimpton partner who has been nominated to be the chairman of the Securities and Exchange Commission. The form, which she filed last week with the U.S. Office of Government Ethics, also shows that White received slightly more than $2.4 million as a Debevoise partner last year. The White family’s assets are likely significantly higher than $16 million, since the disclosure form only requires valuation of assets within a range of figures. For example, seven classes of their assets are valued from $1-5 million; an additional six assets are valued at more than $1 million. (This latter group of assets, owned solely by her husband, can be reported simply as worth more than $1 million, with no upper limit given.) The couple report no significant debt. White also filed a letter in which she outlined how she plans to deal with any conflicts of interest. In the letter, she revealed that her husband, Cravath, Swaine & Moore corporate partner John White, plans to convert from equity to nonequity status at Cravath upon her confirmation. This unusual move may be designed to minimize conflict problems for the couple and allow Cravath to continue to represent clients before the SEC without creating problems for Mary Jo White. Cravath has not previously had nonequity partners. White will receive a fixed salary and an annual performance bonus, according to the letter. You can read the financial disclosure form here and the conflicts letter here.
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