FINRA, the Financial Industry Regulatory Authority, has announced the appointment of three new governors to its Board of Governors. Derrick Roman, a former partner at PricewaterhouseCoopers LLP (PwC), and Gus Sauter, a current member of FINRA’s Investment Committee, have been appointed as public governors. Naureen Hassan, President of UBS Americas and CEO of UBS Holdings, has been appointed as an industry governor to the Floor Member Governor seat.
According to FINRA Board Chair Eric Noll, the new governors bring extensive expertise in audit, risk management, regulatory policy, and investing, which will complement their commitment to advancing FINRA’s mission to protect investors and promote market integrity. FINRA CEO Robert Cook expressed his anticipation of working with the new members as they consider the challenges and opportunities of the regulatory landscape ahead.
Public Governors
Derrick Roman, a Certified Public Accountant and former partner at PwC, brings over 30 years of experience in delivering external audit, advisory, and risk assurance services to various organizations. He is also involved in board affiliations with organizations such as CommScope Holdings, WEX, Inc., and NABA Inc. Roman has been recognized for his contributions to financial education and is considered one of the most influential black corporate directors.
Gus Sauter, a former Global Chief Investment Officer at Vanguard, brings a wealth of industry experience, having worked for 25 years at Vanguard. He has also contributed to industry issues through his involvement with entities like the Securities and Exchange Commission and the Federal Reserve.
Industry Governor
Naureen Hassan, the newly appointed industry governor, currently serves as President of UBS Americas and CEO of UBS Holdings. Her appointment to the Floor Member Governor seat further diversifies the expertise within the Board of Governors.
The addition of these new governors reflects FINRA’s commitment to maintaining effective self-regulation and ensuring appropriate governance to fulfill its mission of protecting investors and promoting market integrity.
