"We are excited to add five new Governors and a new Vice-Chairman to the Board of the Exchange," said Kenneth R. Leibler, Chairman and Chief Executive Officer of the Boston Stock Exchange. "The combined strengths of our new board members will add continued diversity, balance and knowledge of the industry."
Neil "Whit" Conary, Senior Vice President, Moors & Cabot, Inc., was elected to serve as Vice Chairman of the BSE Board of Governors for a one-year term.
The five new Governors elected to serve two-year terms are: Collette D. Chilton, President and Chief Investment Officer of Lucent Asset Management Corporation and an Assistant Treasurer of Lucent Technologies, Inc.; Ronald R. Dion, Chairman and Chief Executive Officer of R.M. Bradley & Co., Inc.; Christopher C. Melvin, Jr., President and Owner of Melvin & Company, the parent company of Melvin Securities, Inc.; Erik R. Sirri Associate Professor of Finance at Babson College; and Linda Whitlock, President and Chief Executive Officer, Boys & Girls Clubs of Boston.
The new governors replace outgoing governors: William F. Devin, William J. Shea and Grady G. Thomas, Jr. Two additional openings are also being filled.
The following six Governors were re-elected for a two-year term: Nicholas Bonn, Executive Vice President, State Street Bank and Trust; Arthur R. Hogan III, Chief Market Analyst, Jefferies & Company, Inc.; Deborah C. Jackson, Chief Executive Officer, American Red Cross of Massachusetts Bay; Craig C. Messinger, President, Fidelity Capital Markets; W. Robert Mudge Regional President - New England, Verizon Communications, Inc.; Bruce K. Newell, Vice President, Pershing Trading Company, LP.
The remaining Governors that complete the twenty-two-member board are: Stephen D. Barrett, Principal, WFS, LLC; S. James Coppersmith, Vice Chairman, The Rasky/Baerlein Group; Daniel M. Joyce, President & COO, Moors & Cabot, Inc.; Kenneth M. King, President, K & S, Inc.; Kenneth R. Leibler, Chairman & CEO, Boston Stock Exchange, Inc.; Andrew W. Lo, PhD., Professor of Finance, MIT Sloan School of Management and Director, MIT Laboratory for Financial Engineering; Richard F. Lynch, Senior Vice President and Director of Equity Trading, Prudential Securities, Inc.; Mary McDermott-Holland, Senior Vice President, Franklin Portfolio Associates, Inc.; Linda M. Sarkisian, Principal, Sarkisian Securities.; and Leo J. Smith, Senior Vice President, Putnam Investments, Inc.
New BSE Governor Profiles:
Collette D. Chilton, President and Chief Investment Officer of Lucent Asset Management Corporation and an Assistant Treasurer of Lucent Technologies, Inc. She is responsible for the investment of approximately $40 billion in assets held by the Lucent Technologies U.S. and foreign defined benefit pension plans, the U.S. and foreign defined contribution plans, the assets of other post-retirement trusts and the Lucent Technologies Foundation.
Ronald R. Dion, Chairman and Chief Executive Officer of R.M. Bradley & Co., Inc., a 110-year-old, privately held, full-service real estate firm. R.M. Bradley specializes in commercial and residential brokerage, asset management, appraisal and advisory services. The Boston-based firm serves national and international institutional clients, marketing and leasing office, retail and industrial properties throughout the United States and Canada. R.M. Bradley also markets and sells premier residential properties in Boston focusing particularly in Boston's Back Bay and Beacon Hill.
Christopher C. Melvin, Jr., President and Owner of Melvin & Company, the parent company of Melvin Securities, Inc., which he founded in 1989, and which now has several divisions. From its Chicago headquarters, Melvin Specialists operates the only African-American owned Exchange specialist operation with a presence on the Boston Stock Exchange and Chicago Stock Exchange. In 1992, Melvin Securities, a full-service broker/dealer, began participating in equity brokerage and in 1993 entered the fixed income arena. Mr. Melvin has been a member of the Chicago Stock Exchange since 1988 and was an elected member of the Chicago Stock Exchange Board of Governors from 1993 to 1996. He began his career in January 1980 at the Chicago Stock Exchange where he worked in Clearing Surveillance. Mr. Melvin holds a B.A. in Political Science from American University in Washington, DC.
Erik R. Sirri, Associate Professor of Finance at Babson College. His research includes the interaction of securities law and finance, the design and performance of securities exchanges, and the mutual funds industry. He has authored numerous academic articles, book chapters, and business school cases. From 1996 to 1999, Dr. Sirri was Chief Economist of the U.S. Securities and Exchange Commission in Washington, D.C. In that capacity, he served as Senior Advisor to the Commission and its chairman on major economic policy issues. Before joining the SEC, he was an assistant professor of finance at Harvard Business School from 1989 to 1995. He has consulted for mutual fund companies, stock exchanges, brokerage houses, economic litigation firms, investment banks, and proprietary trading firms.
Linda Whitlock, President and Chief Executive Officer, Boys & Girls Clubs of Boston (BGCB). Ms. Whitlock brings her passion for children to her leadership of her organization whose high-impact programs enable over 8,000 children and teens from low-income neighborhoods in Greater Boston to become responsible citizens and leaders. With an annual operating budget of over $11 million and more than 300 staff, BGCB is one of the most esteemed non-profit organizations in Boston. A graduate of Mount Holyoke College and University of Michigan, Ms. Whitlock has had prior top-level management experience in planning, real estate and education, and past teaching positions at MIT and Tufts.
About the Boston Stock Exchange, Inc.
Founded in 1834 as the third oldest exchange in the U.S., the Boston Stock Exchange (BSE) has, from its beginnings, played a vital role as a leading regional exchange within the strongest capital market system in the world. Today, the BSE offers exceptional market quality, specialized trading services, innovative technology and outstanding customer service to broker-dealers, investment institutions, and listed public companies. The BSE is currently executing in excess of 185 million shares of listed and over-the-counter securities. Additional information can be found at www.bostonstock.com
