Andrew J. “Buddy” Donohue, director of the SEC's division of investment management, is planning to leave in November, the SEC announced Tuesday.
He has been the division's director since April 2006.
In an interview, Mr. Donohue said he was not sure what he would do next. “I'll evaluate opportunities later,” Mr. Donohue said. “It's time to take on my next adventure.”
Mr. Donohue is credited with helping advance proposals to discourage pay-to-play abuses and to enhance the disclosures associated with target-date retirement funds.
“Buddy has been an effective leader and investor advocate during his tenure at the commission,” SEC Chairwoman Mary Schapiro said in a news release. “His vast knowledge of mutual funds and the investment advisory landscape has been invaluable in advancing several vital regulatory initiatives.”
Before joining the SEC, Mr. Donohue was global general counsel for Merrill Lynch Investment Managers, according to an SEC news release. He had been executive vice president and general counsel for OppenheimerFunds.