She hasn’t even started her new job, and the Street is already speculating about her replacement.
Elisse Walter, a commissioner for the SEC, was tapped yesterday to lead the agency when Mary Schapiro officially steps down Dec. 14.
The White House named Walter, a Democrat appointed by George W. Bush, as the new chairman — not interim chairman. Depending on how she performs her first year, President Obama could seek to nominate her for another term.
However, the administration could also nominate another SEC chief when her time is up, leading to a guessing game about who will replace Schapiro’s replacement.
Among the contenders for the job:
* Richard Ketchum, chairman and CEO of the Financial Industry Regulatory Authority, a self-regulatory body. Ketchum, a former lawyer with Citigroup and an NYSE official, worked at the SEC for 14 years.
* Mary John Miller, an official with the Treasury Department who has played a central role in coordinating the nation’s domestic debt financing. Prior to joining the Treasury, Miller was a director of fixed income at T. Rowe Price.
* Robert Khuzami, head of the SEC’s enforcement division under Schapiro. Khuzami, a former prosecutor for the Justice Department, is known for being tough. He also worked as a lawyer with Deutsche Bank before joining the SEC.
SEC commissioners may only stay in office for five years without congressional approval, and Walter has already been there for four, according to Lynn Turner, a former SEC official.
She may not continue beyond the end of the next session of Congress in late 2014 without being confirmed by the Senate.