Outside FINRA headquarters in New York. (Photo: Ron Pechtimaldjian, ThinkAdvisor)

The Financial Industry Regulatory Authority (FINRA) named two new public governors as well as a small firm governor to its board on Monday.

Bob Muh, chief executive officer of Sutter Securities, Inc., was elected as a small firm governor, one of three representatives small firm representatives on FINRA’s board.

The two new public governors, whose terms will begin as of Monday, are:

• Eileen Murray, co-CEO of Bridgewater Associates.

• Hillary Sale, Walters D. Coles professor of Law at Washington University in St. Louis Law School.

FINRA also appointed four public governors to second terms beginning Monday:

• Rochelle B. Lazarus, chairman emeritus, Ogilvy & Mather.

• Brigitte C. Madrian, Aetna professor of Public Policy and Corporate Management at the Harvard Kennedy School of Government.

• Leslie F. Seidman, former chairman, Financial Accounting Standards Board.

• Luis M. Viceira, George E. Bates professor at the Harvard Business School and Senior Associate Dean for International Development.

“I welcome all of the new governors to the board, and look forward to working with them as the board continues to develop policies and strategies that will advance FINRA’s mission of market integrity and investor protection,” said FINRA Chairman Jack Brennan in a statement. “The new governors bring a broad array of experience and insight to the board and will be an invaluable asset to our decision making.”

FINRA CEO Robert Cook added that the self-regulator’s board “performs a critical leadership role in developing and implementing FINRA’s investor-protection agenda. We are fortunate to have a wide and deep range of expertise among our new and returning governors, and I look forward to partnering with them to support FINRA’s mission.”

FINRA’s 10 industry governors include three from large firms, one from medium-size firms, three from small firms, one floor member, one independent dealer/insurance affiliate and one investment company affiliate. FINRA’s CEO has the remaining seat.

FINRA governors are appointed or elected to three-year terms and may not serve more than two consecutive terms.

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