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FINRA

 

 

FOR RELEASE:
CONTACTS:

Tuesday, January 4, 2005

Nancy Condon (202) 728-8379

 

NASD Members Elect Seven Governors to Board

Washington, DC – NASD today conducted its Annual Meeting, during which the membership of NASD voted to elect seven people to the NASD Board of Governors.  Six of the individuals, John W. Bachmann, James E. Burton, Richard F. Brueckner, Sir Brian Corby, Raymond A. Mason and John Rutherfurd, Jr., were elected to a second term of three years.  William H. Heyman, Executive Vice President and Chief Investment Officer of the St. Paul Travelers Companies, Inc., was elected to his first three-year term on the Board.  The terms of the seven Governors begin today.


The NASD Board consists of 19 Governors, a majority of whom are from outside the securities industry.  Each year the terms of approximately one-third of the Governors expire.  Governors are eligible to serve up to two terms on the NASD Board.  The Governors elected today by vote of the members and their terms of office are as follows:

 

John W. Bachmann

(2005-2008)

Senior Partner

Edward D. Jones & Company 

 

Richard F. Brueckner

(2005-2008)

Chief Executive Officer

Pershing LLC 

 

James E. Burton

(2005-2008)

Chief Executive Officer

World Gold Council
  
Sir Brian Corby

(2005-2008)

Chairman (retired)

Prudential Assurance Company 

 

William H. Heyman

(2005-2008)

Executive Vice President and Chief Investment Officer

The St. Paul Travelers Companies, Inc. 

 

Raymond A. Mason

(2005-2008)

Chairman and Chief Executive Officer

Legg Mason, Inc.


John Rutherfurd, Jr.

(2005-2008)

Chairman and Chief Executive Officer

Moody’s Corporation

 

In addition to those elected today, the following individuals also serve on the NASD Board of Governors:  William C. Alsover, Jr., Chairman, Centennial Securities Company, Inc.; M. LaRae Bakerink, Chief Executive Officer, WBB Securities, LLC; Charles A. Bowsher, Former Comptroller General of the U.S; John J. Brennan, Chairman and Chief Executive Officer, The Vanguard Group; David A. DeMuro, Managing Director, Director of Global Compliance and Regulation, Lehman Brothers, Inc.; Kenneth M. Duberstein, Chairman and Chief Executive Officer, The Duberstein Group, Inc.; Eugene M. Isenberg, Chairman and Chief Executive Officer, Nabors Industries, Inc.; Joel Seligman, Dean, Washington University School of Law, and President-elect, University of Rochester; and Sharon P. Smith, Dean, College of Business Administration, Fordham University.


Brian T. Shea, as Chair of the National Adjudicatory Council (NAC), will commence a one-year term on the Board beginning January 2005.  He is Chief Operating Officer of Pershing LLC.

 

Staff Board members include:  Robert R. Glauber, Chairman and Chief Executive Officer; and Mary L. Schapiro, Vice Chairman, and President, Regulatory Policy and Oversight.

 

NASD is the leading private-sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services.  NASD touches virtually every aspect of the securities business - from registering and educating all industry participants, to examining securities firms, enforcing both NASD rules and the federal securities laws, and administering the largest dispute resolution forum for investors and member firms.  For more information, please visit our Web Site at www.nasd.com.