WASHINGTON, D.C. (APRIL 25, 2023) – Sullivan & Cromwell announced today that Dalia Blass, former Director of the U.S. Securities and Exchange Commission’s Division of Investment Management and more recently Global Head of External Affairs at BlackRock, will be joining the firm as partner, enhancing our investment management regulatory, compliance and enforcement capabilities. As the former top regulator for asset management, Ms. Blass has extensive experience with complex regulatory and compliance issues facing investment companies and their boards, as well as investment advisers managing both registered and private funds. She will be based in our Washington, D.C. office and will work closely with lawyers across S&C’s 13 offices worldwide.
Ms. Blass will provide strategic and regulatory advice to asset managers, registered and private funds, fund boards and their service providers across the range of regulatory, governance, compliance, examination and enforcement matters they face in an increasingly complex legal and regulatory environment. Ms. Blass has unique and deep expertise in the intricate legal, risk and compliance issues raised by existing and new regulations under the Investment Company Act and the Investment Advisers Act, including with respect to the design and structuring of innovative fund products and addressing challenging governance matters. Her leadership in these areas will support our clients as they navigate the increasingly complicated global, federal and state regulatory landscape facing asset managers.
“We are delighted to add Dalia to our strong team of former senior SEC and CFTC regulators. We recently welcomed the return of former SEC Chair, Jay Clayton, and former SEC Division of Enforcement Co-Director, Steve Peikin, as well as the addition of former CFTC Director of Enforcement, Jamie McDonald,” said Robert Giuffra and Scott Miller, co-chairs of Sullivan & Cromwell. “Her addition positions us to continue to be the ‘go-to’ firm to the widest range of traditional and alternative asset managers.”
Most recently, Ms. Blass was a member of the Global Executive Committee at BlackRock, Inc., which manages nearly $9 trillion in assets. At BlackRock, Ms. Blass served as a Senior Managing Director and the Global Head of External Affairs, and led teams that managed the firm’s key regulatory, policy and reputational challenges and opportunities, including with respect to the firm’s sustainability priorities.
In her prior role as Director, she led the SEC’s Investment Management Division in completing more than 70 regulatory initiatives to modernize the regulatory framework for investment companies and investment advisers, improve the investor experience through modernized disclosure and outreach efforts, elevate the standards of conduct for financial professionals, and re-evaluate the role and responsibilities of fund boards of directors. Ms. Blass also held senior roles at the SEC for over a decade and worked in private practice in Washington, D.C., New York and London.
“Sullivan & Cromwell is a leader in financial services and its reputation of excellence extends deeply into the asset management space,” said Ms. Blass. “The firm’s culture celebrates lawyers who bring a range of experiences to the table. I look forward to leveraging my experience from private and public practice to help S&C’s clients navigate the growing web of complex regulatory issues they face.”
Named as one of the “100 Most Influential Women in U.S. Finance” by Barron’s, Ms. Blass received her J.D. from Columbia Law School and her B.A. in International Studies from The American University. She is admitted to practice in the District of Columbia and the State of New York.
About Sullivan & Cromwell’s Investment Management Practice
Sullivan & Cromwell was instrumental in the drafting and development of the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Private Securities Litigation Reform Act of 1995 and has long been one of the leading legal advisers to the investment management industry. Our practice works with traditional and alternative asset managers, boards of directors and investors from hedge funds, private equity funds, management companies, registered investment companies, business development companies, family offices and other investment vehicles, products and accounts. Our lawyers have deep experience in regulatory; transactional; fund formation and origination; fund governance, examination and enforcement; and compensation and succession planning matters.
About Sullivan & Cromwell LLP
Sullivan & Cromwell LLP is a global law firm that advises on major domestic and cross-border M&A; significant litigation and corporate investigations; finance and corporate transactions; and complex antitrust, regulatory, tax and estate planning matters. Our firm’s hallmarks are the highest-quality independent advice and intense dedication to solving client problems. Founded in 1879, Sullivan & Cromwell has more than 800 lawyers located in offices in New York, Washington, D.C., Los Angeles, Palo Alto, London, Frankfurt, Paris, Brussels, Hong Kong, Beijing, Tokyo, Melbourne and Sydney.