The US Securities and Exchange Commission (SEC) has appointed Russell ‘Rusty’ McGranahan as its new general counsel, replacing acting GC Jeffrey Finnell.
McGranahan most recently worked at independent US government agency General Services Administration (GSA), where he was also GC. He initially joined the SEC in November as a senior adviser to the chairman, before taking up the GC role this month. As the SEC’s legal chief, he will be responsible for providing legal advice and expertise to the chairman’s office, commissioners and agency staff.
SEC chairman Paul Atkins said: “I have known Rusty for many years and am excited to have recruited someone of his calibre and experience to my senior team. In addition to being a seasoned securities and M&A lawyer, he has served as both a public company and government agency general counsel.
“I expect Rusty to deploy these skills immediately across a wide range of priorities, including our initiatives to strengthen the capital markets and deliver on a robust rule-making agenda.”
McGranahan spent just under a year at GSA, having previously spent just under a decade as GC at wealth management firm network Focus Financial Partners. Prior to that he spent nine years as an M&A counsel at investment giant BlackRock – his first in-house role.
He started his legal career in private practice at White & Case before moving to Skadden Arps Slate Meagher & Flom, where he was a counsel.
He said: “It is an honour to have the opportunity to join the SEC and the chairman’s senior team during this period of rapid technological and financial innovation. I look forward to working with my new SEC colleagues to embrace developments in a manner that responsibly fosters and maintains America’s preeminence in financial services and capital formation.”
Finnell, meanwhile, will return to his role as deputy GC having stepped in as acting GC following the departure of Megan Barbero in January last year.
Atkins added: “I thank Jeff for his service as acting general counsel. I am pleased that he will continue serving at the commission as deputy general counsel. His sound judgement and deep expertise in the securities laws are invaluable to the SEC.”
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