Barbash heads SEC unit overseeing mutual funds.

WASHINGTON -- New York securities lawyer Barry Barbash has been named director of the Securities and Exchange Commission's division of investment management, SEC chairman Arthur Levitt said yesterday.

The division oversees the $1.9 trillion mutual fund industry.

Barbash was an attorney with the firm of Willkie Farr & Gallagher for the last 12 years. Before that he had been a staff attorney in the SEC's investment managment division.

Barbash replaces Marianne Smyth who left the commission this spring to join the Washington law firm of Wilmer Cutler & Pickering.

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