Vanguard Group Chairman Emeritus John “Jack” Brennan was unanimously elected Friday as chairman of the Financial Industry Regulatory Authority, effective Aug. 15, the same day that former Securities and Exchange Commission official Robert Cook is set to start as FINRA’s new CEO.
Both Brennan and Cook will replace outgoing FINRA chairman and CEO Richard Ketchum.
FINRA announced in mid-June that Cook, former director of the SEC’s Division of Trading & Markets, has been named by FINRA’s Board as the self-regulator’s new president and CEO, replacing Ketchum, who announced late last year that he would retire in the second quarter.
Brennan has been FINRA’s lead governor since 2011.
FINRA announced in June it would move to a nonexecutive chair structure for its board governance.