Goldman Sachs man appointed to manage, monitor banking fraud

SHOOT: Makes sense. I imagine Goldman Sachs will have - officially at any rate - a pretty clean record from now on, and their competitors less so.

clipped from news.yahoo.com WASHINGTON – A Goldman Sachs executive has been named the first chief operating officer of the Securities and Exchange Commission's enforcement division. The market watchdog agency said Friday that Adam Storch, vice president in Goldman Sachs' Business Intelligence Group, is assuming the new position of managing executive of the SEC division. The move came as the SEC has been revamping its enforcement efforts following the agency's failure to uncover Bernard Madoff's massive fraud scheme for nearly two decades despite numerous red flags. Before joining Goldman Sachs, Storch was a senior consultant at accounting firm Deloitte & Touche. He is a certified public accountant and certified fraud examiner, and has an MBA from New York University and bachelors of science in business administration from the State University of New York in Buffalo. Storch has a strong background in technology systems and project management, Khuzami said in a statement.