MarketAxess Holdings Inc. (Nasdaq: MKTX), an operator of electronic trading platform for fixed-income securities, today announced that Richard G. Ketchum, former Chairman and CEO of the Financial Industry Regulatory Authority (FINRA), has been elected to the MarketAxess Board.
Before joining MarketAxess, Mr. Ketchum was the Non-Executive Chief of FINRA, Wall Street’s self-regulating organization, until he announced in November 2015 that he would retire in the second half of 2016. The retirement concluded Mr. Ketchum’s three decades as a regulator for the financial industry.
His career also saw him in other senior roles including as the CEO of NYSE Regulation Inc. from March 2006 to March 2009, and the Chairman of the World Federation of Exchanges’ regulatory committee.
Mr. Ketchum, 65, also had a brief stint at Citigroup as General Counsel, and as a member of the unit’s planning group, Business Practices Committee and Risk Management Committee. In addition, he worked at the U.S. Securities and Exchange Commission (SEC) for 14 years, eight of which he served as Director of the Division of Market Regulation.
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A respected regulatory authority in the securities industry
In October 2010, Mr. Ketchum was appointed by President Obama to serve on the President’s Advisory Council on Financial Capability, a group established to promote and enhance financial literacy among Americans.
Commenting on his appointment, Mr. Ketchum said: “MarketAxess is at the forefront of important technology and market structure advancements for the fixed income markets. It’s an exciting time for the fixed income industry as new sources of liquidity and transparency emerge to create a stronger foundation for secondary trading. I’m excited to join Rick and the rest of the MarketAxess board in advancing changes that strengthen the efficiency and liquidity of global credit markets.”
In announcing the new hire, MarketAxess CEO Rick M. McVey said: “Rick Ketchum is one of the most widely respected regulatory authorities in the securities industry, with decades of relevant experience for our business. We will benefit greatly from his knowledge and insight during this period of accelerating adoption of electronic trading and significant regulatory change in global financial markets.”
Mr. Ketchum earned his Juris Doctorate degree from the New York University School of Law in 1975 and a bachelor’s degree from Tufts University in 1972. He is a member of the bar in both New York and the District of Columbia.