The Securities and Exchange Commission today announced that Gregg Berman, Associate Director of the Office of Analytics and Research in the Division of Trading and Markets, is leaving the agency later this month.
Wow, that was a quick stint.
This follows news that the regulator’s top compliance official, Drew Bowden, who led the agency’s charge into regulating private-equity funds and chided their managers for charging improper expenses, is leaving next month. He is reported to return to the private sector. He has led the SEC’s Office of Compliance, Inspections and Examinations since June 2013.
The Office of Analytics and Research, established in 2012, conducts quantitative research and data analysis to inform the Commission’s policies on markets and market structure. Mr. Berman has headed the office since January 2013 and came to the Division of Trading and Markets in June 2010 as a senior advisor to the division director. He joined the SEC staff in October 2009 as a senior advisor in the Division of Economic and Risk Analysis.
During his tenure, Berman worked on an analysis of the causes of the May 6, 2011 “flash crash,” on rulemaking to create a Consolidated Audit Trail, and on new rules for derivatives trading required by the Dodd-Frank Act. He also oversaw the creation of the Office of Analytics and Research and the implementation of the Market Information Data Analytics System (MIDAS), which daily collects about one billion records, time-stamped to the microsecond, from proprietary stock market data feeds. The SEC shares the data, along with its own research and analysis, on its market structure web site, enabling market participants, academics, and investors to explore key market metrics and trends.
“Gregg has played a key role in enhancing the way we deliver market information to the public and our regulatory partners,” said Stephen Luparello, Director of the Division of Trading and Markets, in a release.
Before coming to the SEC, Berman was a co-founding partner of New York-based RiskMetrics Group, which focuses on risk management, corporate governance, and financial research and analysis. He served in various roles in his 11 years at the firm, including as the head of its global risk business. Before that, he co-managed a private hedge fund, worked for an investment management company, and conducted research in experimental nuclear physics.
