NYSE Completes Move To A New Regulatory Approach And Announces Key Leadership Appointments 

The New York Stock Exchange, a subsidiary of the Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges, today announced it has completed the transition of its regulatory services, along with two leadership appointments in the areas of Listings and Regulation.

As part of its efforts to continually improve critical business and regulatory functions, the NYSE successfully transitioned most of its regulatory functions to an in-house team. Prior to this change, NYSE Group’s regulatory oversight was performed primarily by the Financial Industry Regulatory Authority (FINRA). This transition marks the completion of a two-year effort to prepare and build the staff and information technology infrastructure responsible for monitoring the increasingly complex, high-volume equity and equity option markets. Each Exchange Board of Directors has formed a Regulatory Oversight Committee made up of independent Directors. NYSE’s Chief Regulatory Officer reports to each of the Committees.

Consistent with this new structure, Anthony J. Albanese has joined NYSE as the new Chief Regulatory Officer (CRO). Most recently, Albanese served as the Acting Superintendent for the New York State Department of Financial Services, where he led a team of 1,400 employees with oversight of 3,800 financial services entities. Previously, Albanese spent 13 years at Weil, Gotshal & Manges, where he was a partner specializing in securities litigation. Albanese oversees all regulatory compliance for NYSE listed companies and the reorganized NYSE regulatory affairs teams. Mary Brienza, the current Chief Regulatory Officer, will retire from the NYSE in June.

In addition, John Tuttle has been promoted to Global Head of Listings. Tuttle has spent nearly a decade with NYSE in a variety of management positions, most recently Chief of Staff, where he developed strong relationships with business and political leaders around the world. Tuttle leads a team that oversees relationships with more than 2,400 NYSE listed companies. Garvis Toler, Global Head of Capital Markets will continue driving new business growth for initial public offerings and will work closely with Tuttle. Both report to Tom Farley, NYSE Group President.

“I’m pleased to welcome Anthony to the NYSE and believe his proven track record and deep understanding of the complex financial services environment will be a huge asset as we transition our regulatory services for listed companies,” Farley said. “We believe this structure strengthens our ability to deliver a best in class regulatory program. We greatly appreciate Mary’s 24 years of service, including her role in leading the regulatory transition, and we wish her well in her next chapter.

“Furthermore, I’m delighted to congratulate John on his promotion to head our Listed Companies team,” Farley added. “John brings a deep understanding of our business, our clients and also the broader issues affecting listed companies. We are confident that his leadership and passion for the NYSE-listed company experience will deliver even greater value to our listed community.”

Source: ICE

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