FINRA's New York office.

The Financial Industry Regulatory Authority has elected Andrew S. Duff, chairman and CEO of Piper Jaffray Cos., as a large-firm governor for FINRA’s board.

The results of voting took place at the FINRA Board of Governors Special Meeting on May 19.

“FINRA will benefit from Andrew’s industry knowledge in advancing our mission of protecting investors and ensuring the integrity of our markets,” said FINRA Chairman John Brennan, in a statement. “We look forward to working with him.”

“Andrew’s deep experience working with institutional and individual investors will be an invaluable asset to our deliberations,” added Robert Cook, FINRA’s CEO. “We look forward to his insights on FINRA’s strategy, programs and operations.”

Duff, who has served as chairman and CEO of Piper Jaffray Companies since the completion of its spinoff from U.S. Bancorp in December 2003, has also served as chairman of the firm’s broker-dealer subsidiary, Piper Jaffray & Co., since 2003, and as CEO since 2000.

Duff holds a bachelor’s degree in economics from Tufts University in Medford, Mass., and attended the Advanced Executive Program at the Kellogg School of Management at Northwestern University.

He previously served on the board of directors of the Securities Industry and Financial Markets Association and the board of directors of the American Securities Association. He currently serves on the University of St. Thomas board of trustees and the University of St. Thomas Opus College of Business strategic board of governors.

FINRA is overseen by a Board of Governors, the majority of whom are members of the public. The 10 industry governors include three from large firms, one from a medium-size firm, 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.