SEC chairman and former NYSE chief joins IEX board

William Donaldson, former CEO at NYSE and chairman at the SEC has joined the board of directors at IEX.

The Investors Exchange (IEX) unveiled its finalised board of directors this week, with industry veteran William Donaldson topping the list of appointments.

The former chief executive officer of the New York Stock Exchange (NYSE) and 27th Chairman of the Securities Exchange Commission (SEC) joined the board alongside a number of other “high-calibre leaders”.

Donaldson said having “personally witnessed technology’s dramatic impact on securities trading,” he is proud to be working alongside IEX.

IEX also confirmed that Jeff Charney, chief marketing officer of Progressive Insurance and Jonathan Mariner, former chief financial officer of Major League Baseball have also joined the board of directors.

Brad Katsuyama, chief executive officer at IEX, said the board consists of “high-calibre leaders representing a cross section of business, government and academia.”

The finalised board announcement follows the SEC’s official approval of IEX’s application to become a registered trading venue last month.

The regulator said the approval was about promoting competition and innovation, “to deliver a robust and efficient service to both retail and institutional investors.”

At the time of the approval, Katsuyama said: “We have faced several obstacles along the way and we learned along the way, but we hope our partners realise that our team's hearts and minds are in the right place.”

Other previously disclosed members of IEX’s board include director of trading at Brandes Investment Partners Joseph Scafidi, and co-founder of Cleveland Capital Management, Wade Massad.