Finra board elects William Heyman chairman

Vice chairman and CIO of The Travelers succeeds Jack Brennan effective July 18

Jun 29, 2017 @ 2:04 pm

By InvestmentNews

William H. Heyman, vice chairman and chief investment officer of The Travelers Companies, has been elected chairman of Finra, effective July 18. He served as a member of the Finra board from January 2004 through September 2016.

Mr. Heyman succeeds John J. "Jack" Brennan, former chairman of Vanguard, who became chairman of Finra last year after serving as its board's lead governor since 2011. Mr. Brennan joined the board of the National Association of Securities Dealers in 2002 and remained on the board after the Financial Industry Regulatory Authority Inc. was created through the merger of the NASD and New York Stock Exchange Regulation in 2007.

During his time on the Finra board, Mr. Heyman chaired and served on several committees, the organization said in a release. He also served as director of the division of market regulation (now trading and markets) at the Securities and Exchange Commission from 1991 to 1993.

Prior to his current role at Travelers, he was chairman of Citigroup Investments, a subsidiary of Citigroup that managed much of Citigroup's proprietary portfolio, including private equity, real estate and alternative investments.

He began his career in the securities business in 1979, when he co-founded Mercury Securities, a small broker-dealer specializing in merger arbitrage. Prior to that, he was a securities lawyer, principally with Cravath, Swaine & Moore.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

The biggest drivers in wealth management today

What's shaping the future of financial advice? After 10 years of MarketCounsel Summits, Brian Hamburger explains what's changed in the past decade and what stands ahead for adviser technology and regulation.

Video Spotlight

Help Clients Be Prepared, Not Surprised

Sponsored by Prudential

Recommended Video

Path to growth

Latest news & opinion

Regulators showing renewed interest in cracking down on investment fees

SEC, Finra targeting high-fee share classes, 12b-1 fees and failure to give sales load discounts and waivers to investors.

Tax update: Brady says sales tax deduction in final bill

Taxpayers will be able to deduct state income taxes or state sales taxes in addition to property levies — up to a $10,000 cap.

Critics say regulation hasn't curbed overly rosy projections for indexed universal life insurance

They say rule didn't go far enough and more stringent measures may be necessary.

Broker, retirement groups make last-minute pleas to change tax legislation

Pass-through provisions are target of groups representing employee-model brokerage firms, as well as retirement plan advisers.

House and Senate reach tentative compromise for tax overhaul

Lawmakers still need to get a cost analysis of their agreement, so it's not yet definite, according to a source.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print