Magid, who appeared to be interested in holding the job on a permanent basis, declined to comment to The Associated Press on Friday evening.
Levy will serve until June 11, when District Court judges will name an interim U.S. Attorney to serve until the president's appointee takes over.
He has served as chief of computer crimes, child exploitation and intellectual property since 2001. Recent prosecutions include those of Philadelphia television news anchor Larry Mendte, who hacked into his co-anchor's e-mails, and a New Jersey man convicted of "sex tourism," traveling overseas to seek out sex with minors.
"I consider myself extremely fortunate to, again, lead this office of enormously talented and dedicated prosecutors," Levy said in a statement issued by the office late Friday. "I want to thank Laurie Magid for her dedicated service and for her gracious assistance in the transition."
His appointment was announced by U.S. Attorney General Eric Holder.
Magid's tenure was highlighted by her office's work on the record $1.42 billion settlement the government reached with the drugmaker Eli Lilly & Co. over its marketing of the antipsychotic drug Zyprexa, and a $425 million settlement with Cephalon over the marketing of a highly addictive lollipop painkiller and two other drugs.
Magid plans to return to the appeals unit.
"It has been the greatest honor and privilege to serve as United States Attorney and to lead this extraordinary office," she said in the statement.
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