Norm Champ was named director of the SEC's Division of Investment Management, the agency announced Thursday.
Mr. Champ replaces Eileen Rominger, who is retiring this month.
Before joining the SEC in January 2010, Mr. Champ was general counsel and a partner at hedge fund manager Chilton Investment.
Mr. Champ has been deputy director of the SEC's Office of Compliance Inspections and Examinations since June 2010. His replacement has not been named, a spokeswoman said.