George S. Canellos is leaving the Securities and Exchange Commission later this month as co-director of the enforcement division, a spokesman confirmed.
The other co-director, Andrew J. Ceresney, will now become sole director of the division. Mr. Canellos will not be replaced.
Mr. Canellos has not made any plans, the spokesman said. He has worked at the SEC since July 2009, when he became director of the New York regional office. During his tenure, Mr. Canellos supervised insider trading enforcement against hedge fund managers associated with S.A.C. Capital Advisors, Raj Rajaratnam and others associated with hedge fund firm Galleon Group. He also took part in fraud actions against J.P. Morgan traders for concealing losses from the so-called “London whale,” among other high profile cases.
“He helped to improve coordination between the enforcement and exam programs, streamline procedures to expedite investigations, and better integrate our investigative and trial functions,” said Mary Jo White, SEC chairwoman, in a news release.