Pitt was nominated in early July by President Bush to head the SEC and was confirmed by the Senate Committee on Banking, Housing and Urban Affairs in late July. The final confirmation occurred on August 1 by the U.S. Senate.

 

Pitt has spent two decades as a lawyer and corporate partner resident in international law firm Fried Frank's Washington, DC and New York offices. He has represented clients in every facet of securities-related issues, including the AICPA and Big Five firms.
 
"Mr. Pitt's work at the SEC and representing clients brought before the SEC give him an extraordinary knowledge of Federal securities laws," said Senator Paul S. Sarbanes, Chairman of the Committee on Banking, Housing and Urban Affairs.

 

Pitt follows the footsteps of former SEC chairman Arthur Levitt, the longest-serving chairman in the history of the organization who left shortly after President Bush entered office.  Republican commissioner Laura Unger has served as acting chairman in the interim.