American Express Co. said on Thursday Jay Clayton, former chairman of the U.S. Securities and Exchange Commission, has been elected to its board of directors, effective Oct. 5.

Clayton spent over 20 years as a partner at Sullivan & Cromwell LLP before he became the 32nd chairman of the SEC in 2017. He currently serves as a senior policy adviser and counsel at the New York-based law firm.

He also serves as non-executive chairman of Apollo Global Management Inc's board and a member of the Federal Deposit Insurance Corp's Systemic Resolution Advisory Committee.