MSRB Names John Young 2d of Samuel A. Ramirez to 3-Year Term

WASHINGTON - The Municipal Securities Rulemaking Board has tapped John W. Young 2d, managing director at Samuel A. Ramirez & Co. in New York, to join the 15-member board for a three-year term that ends on Sept. 30, 2011.

"John has a wealth of experience that he will immediately bring to bear on the considerable work facing the board this year," said MSRB chairman Ronald Stack, who is also managing director and head of public finance at Barclays Capital. "We are most pleased to have his perspective and input over the next three years."

The securities seat became vacant Dec. 31 when First Southwest Co. vice chairman Michael Bartolotta left the board following the merger of First Southwest Holdings Co. by PlainsCapital Corp., the second largest bank in Texas.

Though First Southwest has kept its name and continues to function as a broker-dealer and a financial adviser operating as a subsidiary of PlainsCapital, it was unclear legally if a First Southwest employee should remain in a securities dealer seat, Bartolotta said earlier this month.

The MSRB is legally required to be made up of five securities firm officials, five bank officials, and five members of the public, including a representative of the investor community and a representative of issuers.

Before joining Ramirez, Young was a senior managing director at Bear, Stearns & Co., where he had worked since 1991, and was previously employed at Citibank in municipal finance. He graduated from Hamilton College in Clinton, N.Y.

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