Tim Ryan Appointed CEO of SIFMA

New York, NY - 16 January 2008

The Securities Industry and Financial Markets Association (SIFMA) today announced that it has appointed T. Timothy Ryan, Jr. as Chief Executive Officer. Ryan will spend the remainder of January visiting with regional members and other major constituents. Beginning in early February, he will be headquartered in SIFMA’s New York office.

SIFMA Chairman and Head of Global Commodities at J.P. Morgan Blythe Masters said, “After a thorough six month search, it became crystal clear to the SIFMA search committee that Tim had the right mix of hands-on industry and product knowledge, keen command of domestic and global public policy, and proven leadership skills. His experience and expertise will be of great value in further establishing SIFMA as the powerful voice of the securities industry and global financial markets.”

"We couldn't have a leader better for the job than Tim," said Doug Edwards, Chairman-Elect of SIFMA and President and CEO of Morgan Keegan & Company. "His regulatory and industry experience, strong character and reputation make him a perfect choice. The Board looks forward to working with him to lead SIFMA and increase its influence at this interesting time in financial markets."

Ryan was Vice Chairman of Investment Banking for Financial Institutions and Governments at J.P. Morgan and a member of the Investment Banking Coverage Management Committee.

Prior to joining J.P. Morgan in 1993, Ryan was the Director of the Office of Thrift Supervision (OTS), U.S. Department of the Treasury. As OTS Director, he was the banking and securities regulator for the nation's approximately 2,000 Thrifts and managed an office of 3,000 employees in 11 offices. He was also a principal manager of the Savings & Loan cleanup, which involved closing approximately 700 insolvent institutions, improving capital bases and selling over $300 billion of assets. He was a Director of the Resolution Trust Corporation and a Director of the Federal Deposit Insurance Corporation. From 1983 to 1990, Ryan was a partner in the Washington, D.C. office of the law firm Reed, Smith, Shaw & McClay, where he headed the Pension Investment Group and was a member of the firm's Executive Committee. From 1981 to 1983, he was Solicitor of Labor at the U.S. Department of Labor.

"I'm flattered and excited to be selected to run an organization as important and respected as SIFMA," said Ryan. "This is a critical time for our industry. Markets are highly volatile, financial innovations are creating new products at a faster pace than we've ever seen, and global regulation is updating constantly. Amid this, it's never been more important for the industry to work together to continue creating economic growth and stronger, trusted markets. SIFMA will continue to play an essential role as the industry's single powerful voice. I look forward to working with the Board and SIFMA's senior management to drive their goals of ensuring the public's trust in the securities industry and financial markets; promoting effective, efficient regulation; facilitating more open and competitive global capital markets, as well as championing investor education and retirement savings."

Ryan is a graduate of Villanova University and American University Law School. He is also a director of the U.S. Japan Foundation, the International Foundation for Election Systems, and the Mortgage Roundtable. He is a private sector member of the Global Markets Advisory Committee for the National Intelligence Council.

Ryan replaces Marc Lackritz who retired December 31, 2007.

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