The Financial Industry Regulatory Authority (FINRA) has named Robert Cook as its new president and CEO, replacing Richard Ketchum.
Cook, who served as a director of SEC’s trading and markets division from 2010 to 2013, will assume the new role from the second half of 2016.
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At SEC, he was responsible for directing the staff’s review of equity market structure and its analysis of the flash crash of May 6, 2010.
He most recently served as a partner at Cleary Gottlieb Steen & Hamilton’s Washington, DC office. At the firm, he focused on the regulation of securities markets and market intermediaries such as broker-dealers, exchanges, alternative trading systems and clearing agencies.
FINRA lead governor Jack Brennan said: "Robert has a deep understanding of the securities markets, and investors will greatly benefit from his broad regulatory expertise developed as Director of the SEC’s Division of Trading and Markets, where he led the organization in establishing and maintaining standards for fair, orderly and efficient markets."
Ketchum held the role of FINRA chairman and CEO since 2009. The board expects to appoint a new chairman in the coming months.
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By GlobalData"Having known and worked alongside Robert for several years, I know that he brings extensive expertise as one of the leading practitioners on broker-dealer and market regulation, as well as proven regulatory and leadership experience," Ketchum said.
