BOCA RATON, FLA. — In a surprise announcement Friday, the Securities Industry and Financial Markets Association named as its permanent co-chief executive officers Micah Green, who had served as president and CEO of The Bond Market Association, and Marc Lackritz, who had been president of the Securities Industry Association.
The groups had hired McKinsey & Co. earlier this year to conduct a search team to find a new CEO for SIFMA, the new organization of the merged groups, but instead decided to keep Green and Lackritz.
“Micah and Marc are a winning team,” said Ed Forst, co-chairman of SIFMA. “They served together for three years at the Public Securities Association in the 1980s and have worked together on a regular basis on behalf of our industry every since.” PSA’s name was changed to The Bond Market Association a number of years ago.
The announcement came at the same time SIFMA named its executive officers for 2007 as well as 31 other board members that will serve one-, two-, or three-year terms. A spokesman said there may be further additions to the board.
The board of directors includes such long-time municipal market participants as Bernard Beal, CEO of M.R. Beal & Co.; Alexandra Lebenthal, president and CEO of Alexandra & James; Suzanne Shank, president and CEO of Siebert Branford Shank; and Noe Hinojosa, president and CEO of Estrada Hinojosa & Co. Hinojosa and Overlander had been on TBMA’s board just before the merger.
In addition to Forst, the chief administrative officer of Goldman, Sachs & Co., SIFMA named as co-chairman Ellyn McColgan, president of Fidelity Brokerage Co.
Paul Purcell, president and CEO of Robert W. Baird & Co., was chosen to be vice chairman and both Craig Overlander, co-head of fixed income at Bear, Stearns & Co., and Richard Brueckner, CEO of Pershing LLC, were named as co-treasurers.
Blyth Masters was named SIFMA’s chairman-elect, and will replace Forst in 2008.
SIFMA named nine directors of the board with three-year terms concluding in 2010. In addition to Beal, Lebenthal, and Purcell, they include John Taft, president of RBC Capital Markets;; Mark Werner, president and CEO of Banc of America; and James Weddle; managing partner at Edward Jones.
Other members with three-year terms are Jay Levine, head of corporate banking and structured finance for North America and co-CEO of Greenwich Capital; Bart McDade, global head of equity at Lehman Brothers; and Shigesuki Kashiwagi, CEO of Nomura Securities International.
SIFMA named 15 directors with two-year terms to expire in 2009. Besides Hinojosa, Overlander, Shank, McColgan, Masters, and Brueckner, they include Chet Helck, president and chief operating officer of Raymond James & Associates Inc.; James Allen, chairman and head of asset management at Hilliard Lyons; Niall Cameron, global head of markets at ABN-AMRO; and Deborah Castiglioni, CEO at Cutter & Co.
Also in that group are Jerry del Messier, co-president of Barclays Capital; Arthur Grant, president at Cadaret, Grant; Richard Weil, chief operating officer of PIMCO; Peter Madoff, senior managing partner at Bernard L. Madoff Securities; and Marten Hoekstra, president of the private client practice at UBS.
Ten directors were chosen to serve one-year terms, concluding in 2008, including Forst and James Gorman, president and COO of the global wealth management group at Morgan Stanley, who currently serve as co-chairmen of SIFMA.
The other one-year members include: John Gidman, COO at Loomis Sayles; Dan Ludeman, president and CEO at Wachovia Securities; Tony Ehinger, global head of equity at Credit Suisse; and Robert McCann, president of the global private client group at Merrill Lynch & Co.
In addition, the group includes Mark Medford, president and CEO of FTN Financial; Ben Plotkin, chairman and CEO of Ryan Beck; and Seth Waugh, CEO of Deutsche Bank Americas. SIFMA said it would also soon name to this group a member of its Asian arm, ASIFMA.
