Kayla J. Gillan Named Senior Advisor at SEC

FOR IMMEDIATE RELEASE
2009-25

Washington, D.C., Feb. 17, 2009 — Securities and Exchange Commission Chairman Mary L. Schapiro announced today that Kayla J. Gillan has been named Senior Advisor to the Chairman and begins serving in her position today.

Ms. Gillan was a founding Board Member of the Public Company Accounting Oversight Board (PCAOB), where she served from January 2003 to January 2008 and worked extensively to advocate the needs of investors in the auditing process of U.S. public companies. She previously was General Counsel for the California Public Employees' Retirement System (CalPERS), where she spent 16 years working to protect the retirement security for more than 1.5 million public employees. At the SEC, Ms. Gillan will continue to work for investors, leading multiple projects including the creation of an Investor Advisory Council, reconsidering access to the proxy, and evaluating shareholder advisory votes on executive compensation.

"Kayla has a long and dedicated record of exemplary service to investors, and we welcome her expertise and her passion to meet their needs as she joins us here at the agency that must always be the investor's advocate," said Chairman Schapiro. "Not only will we value Kayla's proven ability to hear the concerns of the investor community, but also her vast knowledge of corporate governance and risk assessment as the Commission considers important initiatives during a critical time for our markets."

Ms. Gillan said, "I'm excited to have the opportunity to work with Chairman Schapiro, the Commission, and its staff as we work together to protect investors during these challenging times. I'm eager to play a role in this great agency's self-evaluation and recommitment to meeting the needs of the investor community as well as the challenges posed by today's financial regulatory system."

For the past year since leaving the PCAOB, Ms. Gillan has been the Chief Administrative Officer at RiskMetrics Group, Inc., a firm that provides risk management and corporate governance products and services to financial market participants. She authored the company's first annual proxy statement, which was designated "Best Proxy for 2008" by Corporate Secretary magazine.

At the PCAOB, in addition to leading the organization's relationship with the investor community, Ms. Gillan helped lead efforts to support small businesses through the Board's Forum on Auditing in the Small Business Environment program. She also advanced the PCAOB's re-write of Auditing Standard No. 2 regarding internal control over financial reporting.

At CalPERS, Ms. Gillan was General Counsel from 1996 to 2002, serving as the chief in-house legal advisor and overseeing the System's internal audit function. Between 1986 and 1996, Ms. Gillan served in various other positions at CalPERS, including Deputy General Counsel and principal in-house investment counsel. She was a key architect of CalPERS' corporate governance program.

Ms. Gillan holds a B.A. from California State University at Sacramento and a J.D. from the University of California at Davis.

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