At a Glance
- Career History:
CEO of the Financial Industry Regulatory Authority (2007 to 2009);
CEO of National Association of Securities Dealers (2006 to 2007);
President of the NASD (1996 to 2006)
June 19, 1955.
New York, N.Y.
- Alma Mater:
Franklin and Marshall, B.A. (anthropology); George Washington
University Law School, J.D., 1980
- Web site
Path to Power
Schapiro grew up in Babylon, N.Y., in a heavily Democratic family.
Her mother's cousin, Terry Sanford, was the Democratic governor of
North Carolina from 1961 to 1965 and senator of the Tar Heel state
from 1986 to 1993.
As an undergrad at Franklin and Marshall College, Schapiro majored
in anthropology, before moving to George Washington University to
earn a law degree in 1980.
Schapiro arrived at the SEC at a particularly difficult time for
the comparatively smalll agency, which was overshadowed by the
Treasury Department, the Federal Reserve and the Federal Deposit
Insurance Corporation. The bigger entities all moved aggressively to
cope with the collapse of landmark U.S. companies such as Bear
Stearns and American International Group (AIG).
Reacting to the SEC's passivity in response to the 2008-2009
financial crisis, and the Bernard Madoff scandal, some Bush Treasury
Secretary Henry Paulson, called for a merger of the SEC and the
CFTC. As the only person ever to have been a commissioner at the SEC
and the CFTC, Schapiro seems well-prepared for what may lie ahead.
Schapiro serves on the board of Kraft Foods and Duke Energy. At
Kraft, she works with Kraft's CEO Irene Rosenfeld and her former
boss at the NASD, Frank Zarb. At Duke Energy, she serves on the
board with a variety of influential business leaders that include
Duke Energy's CEO James Rogers, former chief financial officer James
Hance Jr. and Nucor Corp's CEO Daniel DiMicco. If she takes over the
SEC, she will have to give up her board posts.,
During her first run as interim SEC chairwoman, she was replaced
by Levitt, and worked with Levitt when she served as CFTC head.
Schapiro has not donated any money to political candidates
according to the Center for Responsive Politics.