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SEC Announces The Formation Of Asset Management Advisory Committee

Date 09/10/2019

The Securities and Exchange Commission today announced the formation of its Asset Management Advisory Committee.

The committee was formed to provide the Commission with diverse perspectives on asset management and related advice and recommendations. Topics the committee may address include trends and developments affecting investors and market participants, the effects of globalization, and changes in the role of technology and service providers. The committee is comprised of a group of outside experts, including individuals representing the views of retail and institutional investors, small and large funds, intermediaries, and other market participants. 

“Asset management is a critical component of our markets and is especially important to Main Street investors,” said SEC Chairman Jay Clayton. “This committee will help the Commission ensure that our regulatory approach to asset management meets the needs of retail investors and market participants at a time when the industry is evolving rapidly. I would like to thank each of the committee members for agreeing to participate on this important committee.”

Chairman Clayton has appointed Edward Bernard, Senior Advisor to T. Rowe Price, as the initial committee Chairman. Other committee members include:

  • John Bajkowski, President and Chief Executive Officer, American Association of Individual Investors
  • Michelle McCarthy Beck, Chief Risk Officer, TIAA Financial Solutions
  • Jane Carten, Director, President, Director, and Portfolio Manager, Saturna Capital
  • Scot Draeger, President-Elect, General Counsel, and Director of Wealth Management, R.M. Davis Inc. 
  • Mike Durbin, President, Fidelity Institutional
  • Gilbert Garcia, Managing Partner, Garcia Hamilton & Associates
  • Paul Greff, Chief Investment Officer, Ohio Public Employees Retirement System
  • Rich Hall, Deputy Chief Investment Officer, The University of Texas/Texas A&M Investment Management Co.
  • Neesha Hathi, Executive Vice President and Chief Digital Officer, Charles Schwab Corp.
  • Adeel Jivraj, Partner, Ernst & Young LLP
  • Ryan Ludt, Principal and Global Head of ETF Capital Markets and Broker/Index Relations, Vanguard
  • Susan McGee, Board Member, Goldman Sachs BDC Inc.
  • Jeffrey Ptak, Head of Global Manager Research, Morningstar Research Services
  • Erik Sirri, Professor of Finance, Babson College, and Independent Trustee, Natixis Funds, Loomis Sayles Funds, and Natixis ETFs 
  • Aye Soe, Managing Director and Global Head of Product Management, S&P Dow Jones Indices
  • Ross Stevens, Founder and Chief Executive Officer, Stone Ridge Asset Management
  • Rama Subramaniam, Head of Systematic Asset Management, GTS
  • John Suydam, Chief Legal Officer, Apollo Global Management
  • Mark Tibergien, Managing Director and Chief Executive Officer of Advisor Solutions, BNY Mellon | Pershing
  • Russ Wermers, Dean’s Chair in Finance and Chairman of the Finance Department, University of Maryland’s Smith School of Business, and Managing Member, Wermers Consulting LLC  
  • Alex Glass, Indiana Securities Commissioner (non-voting)
  • Tom Selman, Executive Vice President, Regulatory Policy, and Legal Compliance Officer, FINRA (non-voting)

The committee will be formally established on Nov. 1, 2019 for an initial two-year term, which can be renewed by the Commission. The Commission will announce further details about the committee in the near future.