Former Chairs of the Board of Governors
| B. Howell Griswold, Jr. Alex, Brown & Sons, Baltimore, MD | 1939 |
| Francis A. Bonner Blair, Bonner & Company, Chicago, IL | 1940 |
| Robert W. Baird The Wisconsin Company, Milwaukee, WI | 1941 |
| H. H. Dewar Dewar, Robertson & Pancoast, San Antonio, TX | 1942 |
| Henry G. Riter, 3rd Riter & Co., New York, NY | 1943 |
| Ralph Chapman Farwell, Chapman & Co., Chicago, IL | 1944 |
| Ralph E. Phillips Dean Witter & Co., Los Angeles, CA | 1945 |
| William K. Barclay, Jr. Stein Bros. & Boyce, Philadelphia, PA | 1946 |
| Herbert F. Boynton H. F. Boynton & Co., Inc., New York, NY | 1947 |
| L. Raymond Billett McCormick & Co., Chicago, IL | 1948 |
| Clement A. Evans Clement A. Evans & Company, Inc., Atlanta, GA | 1949 |
| John J. Sullivan Bosworth, Sullivan & Company, Denver, CO | 1950 |
| Howard E. Buhse Hornblower & Weeks, Chicago, IL | 1951 |
| Clarence A. Bickel Robert W. Baird & Co., Milwaukee, WI | 1952 |
| Carl Stolleg A. Saxton & Co., Inc., New York, NY | 1953 |
| Edward C. George Harriman Ripley & Co., Inc., Chicago, IL | 1954 |
| Harold E. Wood Harold E. Wood & Company, St. Paul, MN | 1955 |
| Frank H. Hunter McKelvy & Company, Pittsburgh, PA | 1956 |
| Frank L. Reissner Indianapolis Bond and Share Corporation, Indianapolis, IN | 1957 |
| Charles L. Bergmann R.W. Pressprich & Co., New York, NY | 1958 |
| Alexander Yearley, IV The Robinson-Humphrey Company, Inc., Atlanta, GA | 1959 |
| Glenn E. Anderson Carolina Securities Corporation, Raleigh, NC | 1960 |
| William H. Claflin, III Tucker, Anthony & R.L. Day, Boston, MA | 1961 |
| Avery Rockefeller, Jr. Dominick & Dominick, New York, NY | 1962 |
| Merrill M. Cohen J.M. Dain & Co., Inc., Minneapolis, MN | 1963 |
| Hudson B. Lemkau Morgan Stanley & Co., New York, NY | 1963 |
| Robert W. Haack Robert W. Baird & Co., Incorporated, Milwaukee, WI | 1964 |
| Robert R. Miller Hornblower & Weeks-Hemphill, Noyes, Los Angeles, CA | 1964 |
| G. Shelby Friedrichs Howard, Weil, Labouisse, Friedrichs and Company, New Orleans, LA | 1965 |
| Allan C. Eustis, Jr. Spencer Trask & Co., New York, NY | 1966 |
| Robert M. Gardiner Reynolds & Co., New York, NY | 1967 |
| Phil E. Pearce G. H. Crawford Co., Inc., Columbia, SC | 1968 |
| Kenneth H. Sayre Irving Lundborg & Co., San Francisco, CA | 1969 |
| Gordon L. Teach Shearson, Hammill & Co., Inc., Chicago, IL | 1970 |
| J. Coleman Budd The Robinson-Humphrey Company, Inc., Atlanta, GA | 1971 |
| Peter C. Barnes H.O. Peet & Co., Inc., Kansas City, MO | 1972 |
| J. Logan Burke, Jr. W.E. Hutton & Co., New York, NY | 1973 |
| David R. Murphey, III The Pierce, Wulbern, Murphey Corporation, Tampa, FL | 1974 |
| Raymond A. Mason First Regional Securities Inc., Washington, DC | 1975 |
| Robert W. Swinarton Dean Witter & Co. Incorporated, New York, NY | 1976 |
| Eugene Arnold, Jr. Hopper Soliday & Co., Inc., Philadelphia, PA | 1977 |
| David W. Mesker A. G. Edwards & Sons, Inc., St. Louis, MO | 1978 |
| J. Stephen Putnam F. L. Putnam & Company, Inc., Boston, MA | 1979 |
| James F. Keegan Morgan Keegan & Company, Inc., Memphis, TN | 1980 |
| L. C. Petersen Kirkpatrick, Pettis, Smith, Polian, Inc., Omaha, NE | 1981 |
| Ernest F. Rice, Jr. Blunt Ellis & Loewi Incorporated, Milwaukee, WI | 1982 |
| Norman T. Wilde, Jr. Janney Montgomery Scott, Inc., Philadelphia, PA | 1983 |
| Carl P. Sherr Carl P. Sherr & Co., Worcester, MA | 1984 |
| Peter D. Byrne Dean Witter Reynolds, Inc. | 1985 |
| David W. Hunter Parker/Hunter Incorporated, Pittsburgh, PA | 1986 |
| Joseph R. Hardiman Alex, Brown & Sons Incorporated, Baltimore, MD | 1987 |
| James M. Davin Drexel Burnham Lambert Incorporated, New York, NY | 1987 |
| Stephen L. Hammerman Merrill Lynch World Headquarters, New York, NY | 1988 |
| William L. Tedford, Jr. Stephens, Inc., Little Rock, AR | 1989 |
| Kenneth J. Wessels Wessels, Arnold & Henderson, L.P., Minneapolis, MN | 1990 |
| William B. Summers, Jr. McDonald & Company Securities, Inc., Cleveland, OH | 1991 |
| Charles B. Johnson Franklin Distributors, Inc., San Mateo, CA | 1992 |
| Fredric M. Roberts F.M. Roberts & Co., Los Angeles, CA | 1993 |
| Joseph J. Grano, Jr. PaineWebber, New York, NY | 1994 |
| Ian B. Davidson D. A. Davidson & Company, Great Falls, MT | 1995 |
| Mary Alice Brophy Dain Bosworth Incorporated, Minneapolis, MN | January – April 1996 |
| Daniel P. Tully Merrill Lynch & Co., Inc., New York, NY | April 1996 – April 1997 |
| Frank G. Zarb National Association of Securities Dealers, Inc. | April 1997 – September 2001 |
| Robert R. Glauber NASD | September 2001 – September 2006 |
| Mary L. Schapiro NASD | September 2006 – January 2009 |
| Richard G. Ketchum FINRA | March 2009 – August 2016 |
| John J. Brennan The Vanguard Group, Inc. | August 2016 – July 2017 |
| William H. Heyman Travelers | July 2017 – August 2020 |
| Eileen K. Murray Bridgewater Associates, LP | August 2020 – August 2022 |
| Eric Noll FusionIQ | August 2022 – February 2025 |