William H. Donaldson, the former chairman of the Securities and Exchange Commission and a longtime Wall Street grandee, will become chairman of the Financial Services Volunteer Corps, the organization is expected to announce on Wednesday.
In taking the new role, Mr. Donaldson will fill a seat last occupied by John C. Whitehead, the former co-chairman of Goldman Sachs who died in February.
The Financial Services Volunteer Corps is also expected to name Julian Schroeder, the co-founder of Credit Renaissance Partners, as vice chairman. And William J. Burns, most recently deputy secretary of state, will become a board member as well.
The appointment of Mr. Donaldson is the first full changeover in the chairmanship of the Financial Services Volunteer Corps, a nonprofit organization focused on helping develop financial systems and markets in developing countries.
The group was founded in 1990 by Mr. Whitehead and Cyrus Vance, the former secretary of state, to advise countries on how to build healthy commercial and central banking systems and capital markets.
Its other board members include Henry A. Kissinger and John L. Thornton, a former president of Goldman. Paul A. Volcker, the former Federal Reserve chairman, holds the title of honorary chairman.