Morgan Stanley announced that Mary Schapiro has been elected to the Company’s Board of Directors, effective July 1, 2018.
Ms. Schapiro, 63, is Vice Chair of Promontory Advisory Board, part of Promontory Financial Group. Prior to this, she served as the first Chairwoman of the U.S. Securities and Exchange Commission.
James Gorman, Chairman and CEO of Morgan Stanley, said, “I am delighted to welcome Ms. Schapiro to our Board. Her leadership experience at the SEC, FINRA and CFTC brings strong finance, risk management and regulatory expertise to the Firm. The Board, our management and our shareholders will benefit greatly from her extensive experience in government and public policy.”
Ray Wilkins, Chair of the Board’s Nominating and Governance Committee, said, “We extend a warm welcome to Ms. Schapiro as she joins our Board. We will all benefit from her deep knowledge of the financial markets and regulatory environment.”
Morgan Stanley is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals.
Mary Schapiro is Vice Chair of Promontory Advisory Board, part of Promontory Financial Group, since 2014, a leading strategy, risk management and regulatory compliance firm that was acquired by IBM Corporation in November 2016. She previously served as managing director of Promontory Financial Group from March 2013 through January 2014. Since 2014 she has also served as Vice Chair of the Sustainability Accounting Standards Board.
Ms. Schapiro served as the Chair of the U.S. Securities and Exchange Commission (SEC), from January 2009 through December 2012, becoming the first woman to serve as that agency’s Chair. Before that she was the Chair and CEO of the Financial Industry Regulatory Authority (FINRA) from 2006 through 2008, and prior to that held a number of key executive positions at FINRA and its predecessor from 1996 through 2006, including Vice Chair and President of NASD Regulation. Ms. Schapiro was the Chair of the Commodity Futures Trading Commission (CFTC) from 1994 to 1996, and was the first person to serve as Chair of both the SEC and the CFTC.
She currently serves on the Boards of CVS Health Corporation and The London Stock Exchange Group. She also serves on the Advisory Board of the Morgan Stanley Institute for Sustainable Investing. Ms. Schapiro holds a J.D. from the George Washington University Law School, and B.A. in Anthropology from Franklin and Marshall College.