Giovanni Preziosohas been named to serve as general counsel by the Securities and Exchange Commission. Prezioso, 44, is a partner in the Washington office of the
international law firm of Cleary, Gottlieb, Steen & Hamilton.

As a lawyer he has developed extensive securities law experience representing broker-dealers, banking institutions, investment managers and financial market trade
associations.

“The investing public and the commission will be incomparably represented by
Giovanni, who has had remarkably broad experience in the private sector
and who has demonstrated unparalleled creativity, thoughtfulness, intellectual excellence and sound practical wisdom,” says SEC chairman Harvey Pitt. “We are very fortunate to have attracted someone of his unique talents.”

Prezioso will succeed David Becker, who has announced his intention to return to the private practice of law. Becker is leaving the commission on May 7.