Julie Riewe and Marshall Sprung were named co-chiefs of the SEC Division of Enforcement's asset management unit on Monday.
Ms. Riewe and Mr. Sprung have been with the asset management unit since its creation in 2010, and have served as deputy chiefs since May 2012. The Securities and Exchange Commission unit investigates activity at hedge funds, mutual funds, private equity and separate account managers.
SEC spokeswoman Judy Burns declined to comment on their replacements.
Ms. Riewe has supervised investigations of Institutional Shareholder Services for proxy voting issues, and Oppenheimer & Co. for private equity valuation and performance issues, among other cases. Mr. Sprung has been involved in enforcement actions against AXA Rosenberg for its handling of a computer error in its quantitative investment process, and hedge fund Yorkville Advisors for valuation and performance issues, among other cases. Both have helped develop initiatives to address emerging risks in the asset management industry, according to a statement announcing the promotions.
