The U.S. Financial Industry Regulatory Authority (FINRA) on Monday named Tim Scheve, president and CEO of Philadelphia-based Janney Montgomery Scott LLC (JMS), as a new large firm governor on its board of governors.

Scheve was appointed to complete the term of a former governor, John Thiel, who left the board of the U.S. self-regulatory organization earlier this year.

Scheve has been president and CEO of JMS since August 2007. Prior to that, he worked at Legg Mason, including a stint as president and CEO of the firm’s broker-dealer arm.

“FINRA will benefit greatly from Tim’s insights regarding the firms and markets we regulate as we advance our mission of investor protection and market integrity,” says Robert Cook, FINR’s CEO, in a statement.