Elaine Greenberg, former chief of the Securities and Exchange Commission's municipal securities and public pensions enforcement unit, has joined Orrick, Herrington & Sutcliffe LLP's Washington D.C. office, the firm announced Monday.
Greenberg, who left the SEC in July after a 25-year career, will be a partner at the firm.
During her tenure, the SEC charged New Jersey and Illinois with misleading the public about their pension liabilities, the first and second SEC actions against states. She also oversaw other precedent-setting enforcement actions against Harrisburg, Pa. and South Miami, Fla., as well as assisting with the commission's comprehensive report on the muni market in 2012.
"SEC litigation and regulatory enforcement has grown significantly over the past two years with the SEC's whistleblower program and the Dodd-Frank Act," said Walt Brown, managing director of Orrick's business units and a senior member of the firm's white collar practice. "All signs are that we can anticipate even more activity in this area. We are extremely excited to add a leader with Elaine's reputation and insight to our Washington, D.C. team."
Other leaders at the firm also are pleased with the value that Greenberg could add to their practice, which has involved defending a number of individuals and institutions charged in cases arising out of the 2008 financial crisis.
"The level of SEC regulation and enforcement in the municipal bond area has never been higher and continues to grow. No one is better able to advise and, if necessary, defend our clients in this area than Elaine Greenberg," said Roger Davis, head of Orrick's public finance group.
"Elaine's experience and reputation handling high-profile matters involving financial fraud and insider trading adds tremendous strength to our securities litigation and regulatory enforcement bench at Orrick," said Jim Kramer, head of Orrick's securities litigation and regulatory enforcement group.
Greenberg said she was thrilled to join a firm with a large and respected securities practice.
"It has been a true honor to serve at the SEC together with my dedicated colleagues, and I am very appreciative of our collective achievements over the years," said Greenberg. "As I embark on the next phase of my career, I'm extremely excited to join a firm with a nationwide securities litigation and regulatory enforcement team of the caliber of Orrick's and to work alongside the firm's No. 1 ranked public finance practice."