The members of trade association The Structured Finance Industry Group (SFIG) have elected a new, 40-person permanent board, the organization said in a press release.
The chairman of the interim board, Reggie Imamura of PNC Financial Services Group, is remaining in his post. Christopher Haas of Bank of America Merrill Lynch is vice-chairman; Gregg Silver of 1st Financial Bank USA is treasurer; and Jordan Schwartz of Cadwaladar, Wickersham & Taft is secretary.
"The Board will oversee all of SFIG's activities including directing policy initiatives, advising on advocacy efforts, organizing educational events and ensuring the organization properly represents the full spectrum of view of its members," the release said.
In an effort to incorporate the diversity of perspectives and interests within the industry, the SFIG said it sought a "balanced allocation" in the board across types of industry players. Investors, banks and issuers, for instance, each have eight directors. In addition there are 14 directors in total from the following segments: accounting firms, rating agencies, law firms, servicers, research firm, and trustees as well as an at-large rep and one acting as liaison with the Association for Financial Markets in Europe (AFME).