Mary Jo White, the former U.S. attorney in Manhattan, is under consideration to become the next chairman of the Securities and Exchange Commission, three people with knowledge of the matter said.

White, now a partner at law firm Debevoise & Plimpton LLP in New York, would succeed Elisse Walter, who took over as SEC chairman last month, said the people, who asked not to be named because the matter isn't public.

The choice of White, who was known as a no-nonsense prosecutor, would be a departure for the agency which has tended to be run by lawyers steeped in financial policy-making and the securities industry. Her relative inexperience in those areas, along with her work defending corporate clients including Ken Lewis, the former chief executive officer of Bank of America Corp., is likely to draw fire from some lawmakers and advocates for investors.