Bentsen may helm SIFMA permanently

MAR 04, 2013
With Wall Street increasingly focused on Washington, the chief lobbyist at an influential financial services organization may extend his interim leadership into a permanent stay. Kenneth E. Bentsen Jr., the Securities Industry and Financial Markets Association's executive vice president for public policy and advocacy, will become acting president and chief executive when T. Timothy Ryan Jr. steps down as CEO on Feb. 23. Mr. Ryan will head back to JPMorgan Chase & Co., the firm he left to take over SIFMA in April 2008. A former member of the House of Representatives from Texas, Mr. Bentsen is a leading candidate for the permanent position, though SIFMA hasn't yet begun a formal hiring process. While in the House, he served on the Financial Services Committee and played a role in crafting the Sarbanes-Oxley Act. Implementation of its cousin, the Dodd-Frank, has been more complex, creating Wall Street angst. That requires the skill of someone such as Mr. Bentsen, who understands lawmakers and regulators, according to James Angel, associate professor of finance at Georgetown University.

SOUND ARGUMENTS

“Right now, our industry is in the doghouse,” Mr. Angel said. “In that kind of environment, you need good advocates who can counter the knee-jerk spirit of the times with sound arguments.” JPMorgan is appointing Mr. Ryan global head of regulatory strategy and policy. “More than at any time in our history, regulatory strategy and policies around the world are affecting our business and how we serve clients,” Matt Zames, JPMorgan's co-chief operating officer, said in a statement. “Tim has both a deep knowledge of these policies and the government representatives formulating them, and also knows our businesses and executives extremely well from his 16 years at the firm.” [email protected] Twitter: @markschoeff

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave