A former longtime regulator, a Florida chapter chairman and a sales trader in New York working for a Japanese firm are the newest appointees to the Security Traders Association Board of Governors.
These three appointments, made earlier this month, come at the recommendation of STA chairwoman Jennifer Green Setzenfand of Federated Securities. Each appointee, says the STA chairwoman, brings a needed expertise to the 17-person board.
The three new additions are James A. Brigagliano, Sidley Austin, LLP, Washington, D.C., an attorney, S. Peter Stark, Raymond James Financial, St. Petersburg, Fla., who specializes in corporate buybacks, and Brad Wilson, Mizuho Securities USA, New York, who heads U.S. sales trading.
Brigagliano served a quarter century at the U.S. Securities and Exchange Commission. His last post, which he left in September, was deputy Director of the Division of Trading and Markets.
"Jamie’s commitment to protecting investors and promoting fair and efficient markets has served this agency well during challenging times," said SEC Chairman Mary Schapiro.
"He has led initiatives to strengthen regulation of initial public offerings, research, short selling, issuer repurchases, broker-dealer conduct, market structure, and most recently over-the-counter derivatives under Dodd-Frank," Schapiro said at his retirement from the commission.
Since last fall, Brigagliano has been in private practice as an attorney. "He obviously knows a lot about regulation and the SEC. Just to have that voice and experience on the board is great," Setzenfand says.
Stark, chapter chairman of STA Florida, and his group have accomplished much with their conferences.
"They have always had conferences that we rave about. We love the speakers they choose and also the charities and how they go about raising money," Setzenfand said. She added that Stark has worked with the board so much over the years that "it just made sense to bring him in."
Wilson, as head of sales trading at Mizuho Securities in New York, is "passionate" about increasing STA membership, Setzenfand noted. "That," she added, "is something we can use on the board and he also represents an Asia Pac presence, which we haven’t had well represented in the past." Wilson was named last year to spearhead a STANY committee to ramp up membership.
Setzenfand added that Wilson’s considerable experience with traditional high-touch trading will also be welcome on the board.
"We want to make sure that we have enough people on the board who are still picking up the phone," according to Setzenfand.
Board appointment requires a two-thirds approval, explained James Toes, STA’s chief executive and president. The terms are staggered. The board chairman negotiates new appointments by consulting with the board. "We take this very seriously. It is probably one of the biggest decisions we make each year," Toes said.
"There was a lot of thought that Jen put into this. She took in a lot of input from people," Toes adds. "She looked at the dynamics of the board. And she put together a slate that she thought would render a meaningful contribution to the board."
Besides Setzenfand, the rest of this year’s STA officers include Tom Carter, JonesTrading, Westlake Village, Calif.; Treasurer: John Daley, Stifel Nicolaus & Co., Dallas; Secretary: Rory O’Kane, Knight Capital Group, Chicago; Past Chairman: Joseph N. Cangemi, ConvergEx, New York.
Five governors were elected in October at STA’s annual business meeting. They are Geff Gioia, Longbow Research, Independence, Ohio; Patty Kevin-Schuler, Boston Options Exchange, Chicago; Jon Schneider, BATS Global Markets, Lenexa, Kansas; Fred Mason, JP Morgan Asset Management, New York; and Alan Marshall, Luther King Capital Management, Dallas.
Holdovers from the previous board include Peggy Bowie, Manulife Asset Management, Toronto, Charles Padala, New York; and John Russell, Franklin Advisers, San Mateo, Calif.
