Washington, D.C., Dec. 30, 2008 (LAWFUEL) – The Securities and Exchange Commission announced today that Susan G. Markel, Chief Accountant for the Division of Enforcement, will leave the agency in January to become a Managing Director in the Corporate Investigations practice of AlixPartners LLP, a global business advisory firm.
“For more than 14 years, Susan Markel has brought both expertise and insight to financial fraud investigations,” said Linda Chatman Thomsen, Director of the SEC’s Division of Enforcement. “Her instincts are superb and her investigative abilities are unparalleled. As the Chief Accountant for the Division, her leadership and integrity were tremendous assets to the Commission – and investors. We will miss her dedication, her friendship, and her skills and we all wish her the very best.”
Ms. Markel said, “I have had the honor and privilege of working for investors while at the Commission for more than a decade. I also have had the honor and privilege of working with the best and brightest professionals whose hard work and dedication to the ideal of doing the right thing and acting as the investor’s advocate are the cornerstones of our work. This is a great agency with a great history. I will miss the work, the challenges, the excitement of our mission – and I also will miss my friends and colleagues.”
Ms. Markel joined the SEC staff in 1994 as a Staff Accountant in the Division of Enforcement. She became an Associate Chief Accountant in 2000 and became Chief Accountant for the Division of Enforcement in June 2003. During her tenure, Ms. Markel supervised and conducted a wide array of financial fraud, auditor independence and other investigations and enforcement activities.
Ms. Markel has participated in bringing several notable enforcement actions, including financial fraud cases against Xerox and six senior executives; KPMG (based on Xerox audits) and five audit partners; as well as the Cendant, WorldCom, and Cardinal Health matters. In addition to work on investigations, Ms. Markel also was deeply involved in several significant policy decisions and worked closely with other Commission staff including the Office of the Chief Accountant and the Division of Corporation Finance.
In 2000, Ms. Markel received the Commission’s Andrew Barr Award and in 2006 the Commission’s Distinguished Service Award, which recognized her for “…success in overseeing the accounting staff central to the investigations involving accounting and financial fraud – among the most challenging and important matters investigated by the Commission.” In addition to being recognized by the Commission for her achievements, the Federal Bureau of Investigation also honored Ms. Markel for her tireless assistance, expert advice and keen insights in the Cendant securities fraud case. She graduated with a B.S. in accounting from the University of Akron and worked in public accounting and litigation support prior to joining the SEC staff.