Chairman Harvey L. Pitt Announces Selection of Arthur Gabinet To Head the SEC's Philadelphia District Office

FOR IMMEDIATE RELEASE
2002-174

Washington, D.C., December 4, 2002 -- Chairman Harvey L. Pitt today announced the selection of Arthur S. Gabinet as District Administrator of the Commission's Philadelphia District Office. The District Office is part of the Commission's Northeast Region that is comprised of offices in New York, Philadelphia and Boston. In his capacity as District Administrator, Mr. Gabinet will be responsible for managing the enforcement and inspection programs within the Philadelphia office's jurisdiction. It is anticipated that he will assume his post in early January 2003.

Mr. Gabinet is currently a partner resident in the Philadelphia office of the Dechert law firm. He joined the firm in 1985 and has been a member of the litigation department, specializing in corporate and commercial litigation, including securities law issues, corporate governance, creditors' rights, intellectual property and lender liability. Prior to joining Dechert, Mr. Gabinet was a litigation associate at Willkie Farr & Gallagher in New York from 1982 to 1985.

Chairman Pitt said, "Mr. Gabinet brings a wealth of experience and talent to the Commission. I am confident he will carry out the responsibilities of this important position with intelligence and effectiveness."

Wayne M. Carlin, Regional Director of the Commission's Northeast Regional Office, stated, "Mr. Gabinet is a seasoned litigator, with over 20 years of experience in handling a wide variety of complex matters. He will be a dynamic and effective leader of the Commission's Philadelphia office, and I look forward to working with him. I also want to thank Joy Thompson for her service as the Acting District Administrator for the past several months."

Mr. Gabinet said, "It's very exciting to be joining the SEC at this challenging time for the securities markets and investors. I am honored to become part of the Commission's team, and I am enthusiastic about working with the staff of the Philadelphia District Office to promote the successful implementation of the SEC's regulatory and enforcement responsibilities in our area."

Mr. Gabinet, 44, graduated from Swarthmore College with honors in 1979 and received his J.D. degree (cum laude) from the University of Pennsylvania Law School in 1982. He is married and has two children.