WASHINGTON — Ken Bentsen was appointed president and chief executive officer of the Securities Industry and Financial Markets Association on Thursday, replacing former Sen. Judd Gregg, who stepped down to become a senior advisor to the group.

Gregg, who joined SIFMA in May, said in a release, "My decision to step down as CEO of SIFMA does not in any way diminish my commitment to and involvement in promoting the critical role a vibrant capital markets system plays in helping Americans succeed and Main Street prosper, but only reflects my personal need to spend less time commuting to Washington from New Hampshire and slowing a hectic schedule."

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