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Former SEC chief joins consultancy

WASHINGTON — Mary Schapiro, former chairman of the Securities and Exchange Commission, has joined Promontory Financial Group.

The risk-management, regulatory, and compliance consulting firm said Schapiro will serve as a managing director and chairman of its governance and markets practice.

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Schapiro was named SEC chief in the midst of the worst financial crisis since the Great Depression. She took over after the agency had failed to detect the Bernard Madoff pyramid scheme.

Schapiro stepped down late last year.

Promontory said Schapiro will work with clients on corporate governance risk management issues. She will be based in Washington.

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