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SEC picks head of investment management division

The ex-hedge fund partner's appointment comes as the regulator is reviewing money market funds

The US Securities and Exchange Commission yesterday named a former hedge fund executive as director of the agency's division responsible for overseeing the US multi-trillion dollar asset management industry.

Norm Champ's appointment as head of the division of Investment management at the SEC comes as a controversial draft for reform of the $2.7 trillion money market fund industry is privately circulating at the commission.

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