As the Securities and Exchange Commission and U.S. Attorney's Office in Chicago probe Exelon Corp.'s lobbying activities, the Fortune 100 energy company has hired an executive who held top roles at both agencies to lead the firm's compliance, ethics and audit organization efforts. 

David Glockner will begin his newly created role as Exelon's executive vice president of compliance and audit March 23 at the utility giant's headquarters in Chicago, according to an announcement Monday. 

Glockner currently serves as chief compliance officer for Chicago-based global investment firm Citadel and previously was regional director of the SEC's Chicago office and chief of the criminal division for the U.S. Attorney's Office for the Northern District of Illinois.

"In creating this new role, Exelon has made clear its commitment to continuous improvement and ethics, including when working with public officials," Glockner said in a prepared statement.

"Joining the Exelon team represents a meaningful opportunity to build a comprehensive, best-in-class compliance program that goes well beyond basic legal requirements and establishes the highest standards for compliance and accountability," he added.

Glockner declined an interview request Tuesday. 

"We thank David for his contributions in leading Citadel's robust compliance function, and wish him much success in his new role," Citadel chief legal officer Shawn Fagan stated Tuesday in an email. 

Glockner will oversee audits and compliance with internal company policies, laws and regulations that affect Exelon and its operating companies, including Commonwealth Edison Co., also known as ComEd. Exelon reported $34 billion in revenue for 2019. 

The company warned investors in its 2019 annual report filed with the SEC in February that it could face "criminal or civil penalties, sanctions or other remedial measures" as a result of the federal investigations into the company's lobbying activities. The probes were launched in October 2019.

"Any of the foregoing, as well as the appearance of non-compliance with anti-corruption and anti-bribery laws, could have an adverse impact on Exelon's and ComEd's reputation or relationship with regulatory and legislative authorities, customers and other stakeholders, as well as their consolidated financial statements," the company told investors. 

The feds are investigating whether ComEd executives hired politically connected lobbyists to influence Illinois lawmakers, according to a report from The Chicago Tribune based, in part, on an unnamed source "familiar with the probe." 

"We are cooperating fully with the U.S. Attorney's office in their investigation and are keeping them apprised of any actions we take," Exelon said Tuesday in a statement. "Part of our internal response is to examine our practices and identify opportunities for improvement, and we are not waiting to act. We expect Mr. Glockner to lead this effort and establish world-class standards for compliance, ethics and accountability."

As a division chief at the U.S. Attorney's Office from 2000 to 2012, Glockner oversaw more than 130 prosecutors handling an array of cases, including financial fraud and public corruption. At the SEC, he once again oversaw cases related to financial fraud and public corruption.

At Exelon, Glockner will report to president and CEO Chris Crane, who said in a statement, "Fostering a culture of integrity, accountability and fairness is among our core values and a critical component of our ongoing commitment to earn and maintain the trust of our customers, communities, regulators and investors." 

He added that Glockner's "extensive and relevant legal and law enforcement experience make him uniquely qualified to lead a world-class corporate compliance, ethics and audit organization."