He succeeds Norm Champ who was named in July to head the SEC’s Division of Investment Management.
Bowden joined the SEC in November 2011 as the National Associate Director for OCIE’s Investment Adviser/Investment Company Examination Program. He will assume his new responsibilities immediately and continue in his former role until a successor is in place.
'Drew is an outstanding professional with a valuable combination of technical expertise, industry perspective, and leadership and management skills. In his short time at the Commission, he has demonstrated excellent teamwork and collaboration across the SEC and with other regulators', said OCIE Director Carlo di Florio.
OCIE conducts inspections and examinations of SEC-registered investment advisers, investment companies, broker-dealers, self-regulatory organizations, clearing agencies, and transfer agents. In the past two years, OCIE has adopted a risk-focused examination program, hired industry experts, leveraged technology to increase efficiency, and launched a training program focused on quality and consistency. These initiatives have resulted in an increase in the number and quality of examinations and strengthened OCIE’s ability to promote compliance with U.S. securities laws, prevent fraud, monitor risk, and inform SEC policy.
As Deputy Director, Bowden will work closely with Mr. di Florio on OCIE’s strategy, governance structure, risk-based exam process, training programs, and technology, and will continue to co-chair OCIE’s People Committee, which focuses on training, teamwork, and other initiatives to maintain a high-performance culture.
'I am grateful for this opportunity to work more broadly with colleagues in OCIE and to continue the assessment and improvement initiatives instituted by Carlo and the OCIE National Leadership Team over the last two years', said Bowden.
Before joining the SEC, Bowden worked in private law practice, chiefly on legal, regulatory, and compliance issues involving broker-dealer activities. He spent 17 years at Legg Mason, Inc. in a variety of legal, compliance, and senior business roles related to Legg Mason’s broker-dealer and investment management businesses and served on the Board of Governors and Executive Committee of the Investment Advisers Association.
Bowden received his law degree, cum laude, from the University of Pennsylvania Law School and his bachelor’s degree, summa cum laude, from Loyola University in Baltimore.