Securities America CEO Jim Nagengast has been elected to the board of the Financial Industry Regulatory Authority.
Nagengast had the support of the Financial Services Institute, which appears to have helped him garner more votes than Shelley O’Connor, managing director and co-head of Morgan Stanley Wealth Management, who also ran to fill the large firm governor’s seat on the board. Voting took place Thursday.
“We were proud to endorse Jim and work with him and his team to help him win this election and shape FINRA’s future for the better,” said FSI President and CEO Dale Brown, in a statement. “Working through FSI, independent financial services firms are growing their representation and effectiveness with regulators and elected officials, following through on to our model of success through constructive engagement.”
Nagengast joined Securities America — an Omaha, Nebraska-based independent investment advisory and brokerage firm — in 1994. He was its CFO, COO and president before being named CEO in 2010. He previously worked as an analyst for Merrill Lynch Capital Markets and as a consultant for Marakon Associates in Greenwich, Connecticut.
“We congratulate Jim on his election to the Board by our other large firm members,” FINRA President and CEO Robert W. Cook said in a statement. “We look forward to his insights on FINRA’s strategy, programs and operations.”