Ms. Vogel, 48, returns to the Exchange, where she served as managing director, Member Firm Regulation from 1979 to 1992. She succeeds the recently retired Salvatore Pallante as executive vice president. The Member Firm Regulation division conducts ongoing surveillance and annual examinations of the 400 NYSE member firms (some 250 that deal with the public, and 160 floor brokerages, specialist firms and registered traders that do not deal directly with the public) for financial, operational and sales-practice compliance. She will also oversee regulatory affairs and the development of NYSE rules. Ms. Vogel joins the Exchange from Citigroup, Inc. where she serves as deputy controller.
“We’re delighted to welcome back Grace Vogel to the New York Stock Exchange,” said Mr. Ketchum. “Grace has a valuable blend of financial, examination and managerial experience that makes her an ideal choice to lead the Member Firm Regulation division.”
“I’m thrilled to return to the New York Stock Exchange,” Ms. Vogel said. “To lead the Member Firm Regulation team is an extraordinary opportunity to further the NYSE’s goals to protect investors and ensure marketplace integrity.”
As deputy controller at Citigroup, which she joined in 2001, Ms. Vogel was responsible for financial and regulatory reporting. Before joining Citigroup, she was chief accounting officer for J.P. Morgan & Co. Inc. from 1992 to 2001. Prior to her work at the NYSE, Ms. Vogel had been a senior examiner at the National Association of Securities Dealers, Inc. She received her B.S. in accounting at the State University of New York at Albany.
Background: NYSE Regulation
The New York Stock Exchange is the designated examining authority for the major securities firms in the U.S., including approximately 250 member firms that deal with the public and account for more than 85 percent of the public customer accounts handled by broker-dealers. These firms service 93 million customer accounts, operate from more than 21,000 branch offices around the world and employ approximately 157,000 registered personnel. The NYSE is committed to strong and effective regulation of its member firms to protect investors, the health of the financial system, and the integrity of the capital-formation process.