Michael Davis will be leaving his position as Deputy Assistant Secretary of the Employee Benefits Security Administration (EBSA) at the Department of Labor for a position in the private sector, he told NAPA Nov. 7. There is no word yet about his replacement.
Davis assisted DOL Assistant Secretary Phyllis Borzi in directing the policy, regulatory, enforcement and public assistance functions of the office responsible for administering the Employee Retirement Income Security Act (ERISA) and several health benefit laws.
Before joining EBSA he was managing director and head of the west region institutional client group for JPMorgan Asset Management.
Davis has been a regular presence in the retirement industry, serving as one of the DOL's primary liaisons to pension trade groups and service providers and speaking at many industry events, including the 2012 NAPA/ASPPA 401(k) Summit. As such, he was exposed to various parts of our industry — especially the role of the advisor — and his experience and knowledge of what good advisors do to help both employers and plan participants will be missed.
