Paul G. Cellupica Named Deputy Director—Chief Counsel of the Division of Investment Management

The Securities and Exchange Commission announced today that Paul G. Cellupica has been named Chief Counsel of the Division of Investment Management, and will continue serving as the Division's Deputy Director.

Mr. Cellupica served in a number of capacities in the Division of Investment Management and the Division of Enforcement from 1996 to 2004, and rejoined the Commission as Deputy Director of the Division of Investment Management in November 2017. As Deputy Director, Mr. Cellupica has overseen a number of the Division's strategic, rulemaking, and industry engagement initiatives. In his role leading the Division's Chief Counsel's Office, Mr. Cellupica and his staff will be responsible for, among other things, responding to requests for legal and policy guidance, evaluating applications for exemptive relief, and overseeing the Division's enforcement liaison program.

"Paul is a thoughtful, effective and committed manager who works every day to advance the long term interests of Main Street investors, and I am grateful that he is adding the role of Chief Counsel to his slate of responsibilities," said Dalia Blass, Director of the Division of Investment Management. "Time and again since rejoining the Division in November, Paul has exhibited sound judgment and exemplary management skills. He is an invaluable member of the team and is able to use his extensive experience and knowledge of investor needs to help the Division in its goal to modernize the regulation of asset management for the benefit of investors."

"It's a privilege to take on this additional role and continue to work on initiatives that serve the needs of the country's millions of investors – particularly retail investors, who look to mutual funds and other investment products to help them prepare for retirement and other financial needs," said Mr. Cellupica. "I am humbled, but excited to have the opportunity to work with the talented and accomplished staff in the Chief Counsel's Office and continue to work with Dalia and all of the other dedicated professionals in the Division of Investment Management and across the agency.";

Prior to rejoining the Division in November 2017, Mr. Cellupica was Managing Director and General Counsel for Securities Law at Teachers Insurance and Annuity Association of America (TIAA), where his responsibilities included legal support for the TIAA-CREF mutual fund complex. Prior to that he was Chief Counsel for the Americas at MetLife, Inc., where he had responsibility for legal support of MetLife's financial services businesses in the U.S. and Latin America.

During his first tenure at the Commission, Paul received the SEC's Martha Platt Award in 2002 in recognition of his exceptional dedication, excellence and integrity, and the Law and Policy Award in 2003.

Mr. Cellupica received a B.A. magna cum laude from Harvard College and a J.D. cum laude from Harvard Law School. He served as a law clerk for Judge David Nelson of the U.S. Court of Appeals for the Sixth Circuit.