The board of directors of the U.S. investment industry’s self-regulatory organization, the Financial Industry Regulatory Authority (FINRA), has elected William Heyman, vice chairman and chief investment officer of financial giant the Travelers Cos. Inc. as FINRA’s next chairman.
Heyman will succeed Jack Brennan on July 18. He launched his career in the securities business in 1979 as co-founder of Mercury Securities, a small broker-dealer specializing in merger arbitrage. Prior to that, he was a securities lawyer. Heyman also served as director of market regulation at the U.S. Securities and Exchange Commission (SEC) from 1991 to 1993.
“Bill’s extensive experience as a regulator, as an institutional investor and in the industry make him an outstanding choice to chair an organization whose mission is to protect investors and ensure the integrity of financial markets,” says Robert Cook FINRA president and CEO, in a statement.
“I am honored by the opportunity to lead the FINRA board at this important time in the evolution of FINRA and the financial industry and markets,” adds Heyman, in a statement.