FINRA announced today that Derrick Roman, former partner of PricewaterhouseCoopers LLP (PwC), and Gus Sauter, current member of FINRA’s Investment Committee, have been appointed as public governors on its Board of Governors. In addition, Naureen Hassan, President of UBS Americas and CEO of UBS Holdings, has been appointed as an industry governor to the Floor Member Governor seat. Together, these individuals bring extensive audit, risk management, regulatory policy and investing experience to the Board.
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Gus Sauter (Photo: Business Wire)
“I am delighted to welcome Derrick, Gus and Naureen as the Board’s newest governors,” said FINRA Board Chair Eric Noll. “Their combined expertise complements their commitment to advance FINRA’s mission to protect investors and promote the integrity of the markets.”
“Effective self-regulation makes our capital markets stronger, and our Board plays a critical role in ensuring appropriate governance as we pursue FINRA’s mission,” said FINRA CEO Robert Cook. “I look forward to working with the Board’s newest members as we consider the challenges and opportunities of the regulatory landscape ahead.”
Public Governors
Roman, a Certified Public Accountant, is a former partner at PwC, with over 30 years of experience delivering external audit, advisory and risk assurance services to multi-national public, privately held and non-profit organizations.
Roman is a Trustee of the National Constitution Center where he serves on the Audit and Finance Committee and the Executive Committee. His other board affiliations include CommScope Holdings; WEX, Inc. and NABA Inc. (the National Association of Black Accountants). He has been recognized by Money Magazine as a champion for financial education for young people and is one of Savoy Magazine’s “2021 Most Influential Black Corporate Directors."
He received his bachelor’s degree from Babson College and completed his executive education at the Stanford University Graduate School of Business Director’s Consortium, as well as Harvard Business School’s Program on Negotiation and Strategic Decision-Making.
Sauter is a current member of FINRA’s Investment Committee and had previously served as the first Global Chief Investment Officer at Vanguard, where he worked for 25 years until his retirement in 2012. He has worked on industry issues with entities including the Securities and Exchange Commission and the Federal Reserve.
Sauter is a past member of the University of Chicago Booth School of Business Council for the Dean and has written articles for The Wall Street Journal online edition as a member of the “Experts Panel.”
He received his bachelor’s degree from Dartmouth College and his MBA from the University of Chicago.
Industry Governor
Hassan was appointed President UBS Americas and CEO of UBS Americas Holding LLC in October 2022, to oversee UBS’s business in the region, navigate the evolving public policy landscape, and ensure sound regulatory and reputational risk governance. A 25-year veteran of the financial services industry, Hassan has expertise in strategy, digital transformation, cybersecurity and regulatory and risk management.
She joined UBS from the Federal Reserve Bank of New York, where she was the organization’s second ranking officer as COO and First Vice President, as well as an alternate voting member of the Federal Open Market Committee. Previously, Hassan was the executive vice president leading Investor Services strategy, segments and platforms at the Charles Schwab Corporation and a member of the firm’s 20-member Executive Committee.
Hassan holds an MBA from Stanford University Graduate School of Business and bachelor’s degree in economics from Princeton University.
More information regarding the Board's operations, including the membership and responsibilities of its committees, is available here.
About FINRA
FINRA is a not-for-profit organization dedicated to investor protection and market integrity. It regulates one critical part of the securities industry—brokerage firms doing business with the public in the U.S. FINRA, overseen by the SEC, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees. For more information, visit www.finra.org.
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