Washington, DC, June 30, 2005 – Peter Derby, Managing Executive for O…

Washington, DC, June 30, 2005 - Peter Derby, Managing Executive for Operations and Management, announced today that he intends to leave the Commission at the end of July to explore options in both the private and public sectors. Chairman William H. Donaldson said, "Peter has played a critical role as a trusted member of our senior management team during a critical period at the Commission. He was instrumental in increasing the operational efficiency and effectiveness at the Commission and served with distinction and integrity. Peter will leave a strong and lasting legacy at the Commission." Derby said, "It has been an honor and a privilege to serve under the leadership of Chairman Donaldson. The opportunity to work at the 'crown jewel' of federal government at such an historic time has been an experience I will always treasure." Derby became the Managing Executive for Operations and Management in April of 2003. In this position Derby assisted the Chairman with the increase in the SEC's operational effectiveness and responsiveness while considering administrative, operational and management issues during a period of rapid growth at the Commission. In addition to increasing the Commission's operational effectiveness, Derby oversaw a number of key initiatives during his tenure including: the creation of the Risk Management Program and the Office of Risk Assessment to create a more anticipatory and proactive posture; engaging in a comprehensive review of the agency and the preparation of the SEC's 2004-2009 Strategic Plan creating Dashboard accountability reports; producing the first-ever audited financial statements of the Commission completed for fiscal 2004; integration of technology into the work process leading to several successful programs such as the document management initiatives, tagging of data and the creation of the virtual workforce program; and leading the development of a "concept of implementation" for aligning facilities, technology and organizational systems with the agencies strategic themes. Prior to coming to becoming Managing Executive for Operations and Management, Derby served as an elected member of the Board of Trustees of the Village of Irvington-on-Hudson, N.Y. Derby spent a decade in Russia, where he participated in the founding of DialogBank, the first private Russian bank to receive an international banking license. He was named CFO in 1990, served as President and CEO from 1991 to 1997 and as Chairman from 1997 to 1998. Additionally, Derby founded the first Russian investment firm, Troika Dialog and served as President and CEO from 1991 to1996 and as Chairman from 1996 to 1997. Prior to his tenure in Russia, Derby was a Corporate Finance Officer at National Westminster Bank from 1985 to 1990, and an Auditor at Chase Manhattan Bank from 1983 to 1985, both in New York City. Mr. Derby received his bachelor's degree from New York University in 1983.

Washington, DC, June 30, 2005 – Peter Derby, Managing Executive for O…

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