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Obama picks U.S. attorney to lead SEC

January 24, 2013 News Extra

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WASHINGTON — President Barack Obama will nominate Mary Jo White to lead the Securities and Exchange Commission, tapping an attorney with broad experience in prosecuting white-collar crimes to lead an agency that has a central role in implementing Wall Street reform.

A White House official said this morning that the president would announce White’s nomination this afternoon during a ceremony.

At the same event, Obama will renominate Richard Cordray to serve as head of the Consumer Financial Protection Bureau, the official said. The president used a recess appointment last year to circumvent Congress and install Cordray as head of the bureau.

White spent nearly a decade as the U.S. attorney in Manhattan, building a reputation as a tough prosecutor with an expertise in pursuing white collar crimes and complex securities and financial fraud cases. White House officials say that experience makes her well positioned to implement Obama’s Wall Street reform legislation.

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