George Canellos Named Deputy Director of SEC Enforcement Division

The Securities and Exchange Commission today announced that George S. Canellos, currently Director of the SEC’s New York Regional Office, has been named Deputy Director of the Division of Enforcement.

“For the past three years, George has been an incredibly effective advocate for investors and has helped the New York office take on some of the most difficult cases in the securities arena,” said SEC Chairman Mary Schapiro. “With his experience, he is extremely well-suited to help head an Enforcement Division that has brought a record number of cases and is pursuing a host of complex investigations.”

“Everyone interested in the fair, thoughtful and vigorous enforcement of the federal securities laws will be thrilled with the appointment of George Canellos as Deputy Director of the Division of Enforcement,” said Robert S. Khuzami, Director of the SEC’s Enforcement Division. “He is known to all as possessing a keen and uniquely probing intellect, an innovative approach to problem-solving, and a deep commitment to prosecuting wrongdoers and protecting the public. I am excited that he has agreed to bring his formidable talents to this position.”

Mr. Canellos said, “I’m extremely excited to have this opportunity to serve the national enforcement program and to work with colleagues throughout the country who have contributed so much to the recent success of the SEC’s enforcement efforts. Their exceptional achievement in face of many challenges gives me great confidence for the future.”

Mr. Canellos, 47, has been Director of the New York Regional Office since July 2009, overseeing 400 professional staff of enforcement attorneys, accountants, investigators and compliance examiners involved in the investigation and prosecution of enforcement actions and the performance of compliance inspections in the New York region. The New York office has responsibility for the largest concentration of SEC-registered financial institutions including more than 4,000 investment banks, investment advisers, broker-dealers, mutual funds and hedge funds.

A former federal prosecutor, Mr. Canellos became an Assistant U.S. Attorney in the Southern District of New York in 1994. During his nine years there, Mr. Canellos served in a number of positions including Chief of the Major Crimes Unit, Senior Trial Counsel of the Securities and Commodities Fraud Task Force, and Deputy Chief Appellate Attorney.

Following his service at the U.S. Attorney’s Office and immediately prior to assuming his position at the SEC, Mr. Canellos served more than six years as a litigation partner at the law firm of Milbank, Tweed, Hadley & McCloy LLP. He began his legal career as a litigation associate at Wachtell, Lipton, Rosen & Katz.

Mr. Canellos is a graduate of Harvard College and Columbia University School of Law.

Mr. Canellos will begin serving as Deputy Director on June 4, 2012, at which time Andrew Calamari will become Acting Director of the New York Regional Office. Mr. Calamari is currently Senior Associate Regional Director and co-head of Enforcement for the New York Regional Office and has served in that position since 2004.  Before coming to the SEC in 2000, Mr. Calamari was engaged in private law practice for nearly 15 years, including as a litigation partner at Donovan Leisure Newton & Irvine.  He is a 1985 graduate of Fordham Law School.