William H. Donaldson, chosen by President George Bush to be the new
head of the Securities and Exchange Commission (SEC), is the parent
of a St. Lawrence alumnus and a former University trustee.
Donaldson was chairman of the New York Stock Exchange from 1990-95
and a co-founder of Donaldson, Lufkin & Jenrette, a well-known investment
banking firm. His son, Matthew Donaldson, attended St. Lawrence. While
he was a student, William Donaldson was a University trustee; he was
elected to a six-year term on the Board of Trustees in 1989. In 1985,
William Donaldson was awarded an honorary degree from St. Lawrence,
and spoke at the Commencement ceremony.
Donaldson's charge as SEC head, President Bush said,
would be "to vigorously enforce our nation's laws against corporate
corruption and to uphold the highest standards of integrity in the securities
markets." Donaldson, accepting the President's nomination, commented,
"It's time for all of us to pull up our socks," referring to recent
scandals involving Wall Street firms.
Posted: December 11, 2002