Finra board elects William Heyman chairman

Vice chairman and CIO of The Travelers succeeds Jack Brennan effective July 18
JUN 29, 2017

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.

Latest News

The average retiree is facing $173K in health care costs, Fidelity says
The average retiree is facing $173K in health care costs, Fidelity says

Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.

Advisor moves: NY-based Coastline wealth adds three teams with over $430M in assets
Advisor moves: NY-based Coastline wealth adds three teams with over $430M in assets

Raymond James also lured another ex-Edward Jones advisor in South Carolina, while LPL welcomed a mother-and-son team from Edward Jones and Thrivent.

Fintech bytes: Vestwell comes through for underserved savers with multilingual support
Fintech bytes: Vestwell comes through for underserved savers with multilingual support

MyVest and Vestmark have also unveiled strategic partnerships aimed at helping advisors and RIAs bring personalization to more clients.

UBS profit beats estimates as Ermotti sees brighter outlook
UBS profit beats estimates as Ermotti sees brighter outlook

Wealth management unit sees inflows of $23 billion.

Evercore to buy advisory firm Robey Warshaw for $196 million
Evercore to buy advisory firm Robey Warshaw for $196 million

Deal will give US investment bank a foothold in lucrative European market.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

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.