April 2 Former Securities and Exchange Commission (SEC) chairman Mary Schapiro will join a private consulting firm as a managing director, the Wall Street Journal said, following a tumultuous four years rehabilitating the agency's battered reputation.
The appointment is expected to be announced by Promontory Financial Group LLC on Tuesday, the paper said, without providing the source of its information.
Schapiro stepped down as SEC chairman in December.
In an interview with the paper, Schapiro said she wouldn't go back to government. "After spending 28 of the last 32 years as a regulator, now was the right time to do something different," she said. ()
Promontory is a strategy, risk management, regulatory, and compliance consulting firm founded in 2001 by Eugene Ludwig, who served as U.S. Comptroller of the Currency under President Clinton.
Promontory could not immediately be reached for comment by Reuters.