The Municipal Securities Rulemaking Board announced Wednesday that former board member Milroy A. Alexander has rejoined the group as a public representative through Sept. 30, due to some shuffling in the wake of board member Peter Taylor’s resignation.
Benjamin S. Thompson, managing principal and chief executive officer of Samson Capital Advisors, will extend his service on the 21-member board through Sept. 30 of next year to fill the seat occupied by Taylor, the executive vice president and CEO of the University of California system. Taylor, who has served on the board since 2011, said he is in line to assume some new roles at the university that will be too time-consuming to allow him to remain at the MSRB.
“I couldn’t continue at the MSRB and do a fair job of it, Taylor said. “I was disappointed, because I really enjoyed it.”
Taylor said he reached the decision after discussions with MSRB chair Jay Goldstone and executive director Lynnette Kelly, and chose to leave now while the board had a large pool of potential replacements available rather than wait until closer to the end of the year.
Alexander, former chief executive officer of the Colorado Housing and Finance Authority, will serve the remainder of Thompson’s term as Thompson rotates into Taylor’s seat. The shuffle allows the board of directors to meet its statutory requirement to include at least one investor representative. Alexander’s original term expired on Sept. 30 last year.
“Roy is a tremendous asset to the MSRB and we are thrilled to welcome him back,” said Goldstone. “We are also pleased that Ben will be continuing his service through next year. He contributes a valuable investor perspective to Board discussions.”
The board comprises eleven members that represent the public and ten that represent entities regulated by the MSRB, including broker-dealers, banks and municipal advisors. Seven individuals join the board each year and seven others complete their three-year terms.