Former Sen. Judd Gregg, CEO of the Securities Industry and Financial Markets Association, stepped down Thursday from his post. SIFMA’s president, Ken Bentsen, is replacing him.
Gregg will continue working with the association as a senior advisor.
He said in a statement that his decision to step down reflected his “personal need to spend less time commuting to Washington from New Hampshire and slowing a hectic schedule.”
Gregg was named CEO in May.
“Although I am stepping down as CEO, I look forward to continuing to work with Ken and the entire SIFMA team, especially in the area of communicating the importance of a strong capital markets system and investment community in supplying the fuel for America's economic engine,” Gregg said.
Bentsen, who will remain president, said in the same statement: “My thanks go out to Judd for his extraordinary partnership since joining SIFMA, and I am pleased he will continue to work with SIFMA in an advisory capacity.”
“Ken's extensive knowledge of our industry will be critical as we communicate with regulators, Congress and the broader public in the coming years,” said Jim Rosenthal, SIFMA chairman and chief operating officer of Morgan Stanley, in the statement. “I also want to thank Judd for his valuable insight over the last year and am pleased he has agreed to remain involved with SIFMA as a senior advisor."
Bentsen is a former Texas congressman who sat on the House Financial Services and Budget committees. Bentsen has a B.A. from the University of St. Thomas and an M.P.A. from American University.
Check out SIFMA Launches Investor First Initiative; CEO Gregg Says SEC Should Go First on Fiduciary on ThinkAdvisor.