The Securities and Exchange Commission have named three experts in the fields of risk management, structured finance, and corporate transactions to senior positions at the SEC's newly established Division of Risk, Strategy, and Financial Innovation. The Division was created in September to enhance the agency's capabilities and help identify developing risks and trends in the financial markets.

The Division's new senior officials are:

Richard Bookstaber, a senior policy adviser to the director. Bookstaber served as the managing director in charge of firm-wide risk management at Salomon Brothers, director of risk management at Moore Capital Management, and Morgan Stanley's first market risk manager. He is the author of three books and a number of articles on finance topics ranging from option theory to risk management, and has received various awards for his research.

Adam Glass, a counsel to the director. Glass comes to the SEC from Linklaters, where he founded its Structured Finance and Derivatives Practice. During his tenure at Linklaters, he represented banks, investment banks, monoline insurance companies, and hedge funds. Previously, he was a partner at Sidley Austin Brown & Wood.

Bruce Kraus, a counsel to the director. Kraus comes to the SEC from Willkie Farr & Gallagher LLP, where he practiced corporate and securities law for more than 20 years. His practice included mergers and acquisitions transactions and other corporate finance work.

The Division of Risk, Strategy, and Financial Innovation combines the Office of Economic Analysis, the Office of Risk Assessment, and other functions to provide the Commission with sophisticated analysis that integrates economic, financial, and legal disciplines. The Division's responsibilities cover three broad areas: risk and economic analysis; strategic research; and financial innovation.