George Canellos, the SEC’s former co-director of enforcement, has joined Milbank, Tweed, Hadley & McCloy as global head of the litigation department, according to a press release.
Canellos has worked for the law firm before. He will start his new position at Milbank in mid-March.
Canellos joined the Securities and Exchange Commission as a director in New York, the largest of the agency’s dozen field offices. He became a co-head of enforcement in 2012.
Earlier this month the SEC said that, among his accomplishments, Canellos had supervised legal actions against JP Morgan Securities, Credit Suisse Securities, RBS Securities and Bank of America for misleading investors in selling residential mortage-backed securities. So far these cases have resulted in $570 million in sanctions.
In addition, Canellos oversaw actions against financial institutions and senior executives for fraud and breach of fiduciary duty in the structuring and marketing of collateralized debt obligations. Those investigations targeted Merrill Lynch and UBS Securities, among others.
Canellos has also worked for the Department of Justice as head of the major crimes division for New York’s Southern District.