On Monday, President Barack Obama designated Elisse Walter, currently an agency commissioner, to replace chairman Mary Schapiro next month.
Walter will stay on for at least a year until her term as commissioner ends at the close of 2013, reports the Wall Street Journal. At that time the White House plans on nominating permanent successor, according to WSJ.
Walter has generally sided with Schapiro over the years. "She's a Mini-Me version of Schapiro," Bart Naylor, financial policy advocate at the nonprofit group Public Citizen told The Huffington Post. "She voted with her pretty much every time. However Schapiro votes tells you how Walter will vote."
Walter, 62-years-old, is a less well-known figure outside the beltway. Here are some things to know about her:
Walter served as acting chair of the SEC for a brief period in January 2009. Previously, she was the Senior Executive Vice President, Regulatory Policy & Programs, for FINRA.
President Obama said in a statement: "I'm confident that Elisse's years of experience will serve her well in her new position, and I'm grateful she has agreed to help lead the agency."