FOR IMMEDIATE RELEASE
2017-139
Washington D.C., Aug. 3, 2017—
The Securities and Exchange Commission today announced that David W. Grim, Director of the Division of Investment Management, will leave the agency next month after more than 20 years of public service.
Mr. Grim, who joined the Division directly from law school and rose to become its leader, has left a legacy of regulatory policy reforms and legal guidance that have shaped the Division and the industry it regulates. He has also dedicated himself to developing the culture of collaboration and professional development that contributed to the Division ranking among the top places to work in the federal government. The Division oversees the $70 trillion dollar asset management industry, which includes mutual funds; exchange-traded funds; closed-end funds; variable insurance products; business development companies and investment advisers.
"For over two decades, Dave has vigorously pursued the SEC's mission. He has promoted and protected the interests of investors," said Chairman Jay Clayton. "America's investors have been well-served by Dave's dedication, commitment and expertise."
As Director, Mr. Grim led the Division's policy-development; legal-interpretation; data-analysis and disclosure-review functions. Key initiatives advanced under Mr. Grim's leadership as Director included:
"From the moment I set foot here, I knew the SEC was a special place because of its mission and its exemplary workforce with an unwavering commitment to doing what is right for investors," Mr. Grim said. "I have been a proud member of the staff of the Division of Investment Management for 22 years, and it has been a privilege to serve the investing public as the Division's Director."
Mr. Grim joined the SEC in 1995 as a Staff Attorney in the Division's Office of Investment Company Regulation. In 1998, he moved to the Division's Office of Chief Counsel, where he served in a number of positions, including being named Assistant Chief Counsel in 2007. Mr. Grim was appointed as Deputy Director of the Division in 2013, and Director in 2015.
Mr. Grim graduated cum laude with a degree in political science from Duke University and received his law degree from George Washington University, where he was Managing Editor of the George Washington Journal of International Law and Economics.