Milbank Tweed partner to chair SEC board

Milbank Tweed Hadley & McCloy partner William Webster has landed the role of chair on the new Securities and Exchange Commission’s Public Company Accounting Oversight Board. Webster, a former FBI and CIA director, had the support of the three Republican members of the five-member commission that voted on the appointment, all of whom have had previous career ties to the accounting profession. The appointment is good news for the accounting profession, as Webster’s rival for the role John Biggs is expected to have taken a tougher approach. Baker & McKenzie tax partner Daniel Goelzer has also won a place on the board.