Hudson Executive Capital, a new activist hedge fund backed by two titans of the deal making world, added two more high-profile names to its team: former chairman of the US Securities and Exchange Commission Mary Schapiro and former chairman and CEO of Wells Fargo, Richard Kovacevich.

Schapiro will become a senior adviser for governance and regulatory matters, the fund said in a release Wednesday. Kovacevich will take on the role of "CEO Partner" alongside more than a dozen others with that title.