David Grim was appointed deputy director of the SEC's Investment Management Division on Tuesday.
Mr. Grim replaces Robert Plaze, who retired in August.
Mr. Grim has been with the division for 17 years, most recently as assistant chief counsel since 2007.
Mr. Grim will report to Norm Champ, who became division director in July after two years as deputy director of the Securities and Exchange Commission's Office of Compliance Inspections and Examinations. Before that, Mr. Champ was general counsel and partner with hedge fund manager Chilton Investment.
The SEC's Division of Investment Management provides oversight and regulation of the investment management industry.