The Financial Industry Regulatory Authority (FINRA) Board of Governors today unanimously elected John J. “Jack” Brennan, Vanguard Group Chairman Emeritus and Senior Advisor, as FINRA Chairman effective Aug 15, 2016.

Brennan has served as FINRA’s Lead Governor since 2011 and succeeds Richard G. Ketchum as Chairman. His term will be effective upon Ketchum’s previously announced retirement. In June, FINRA announced that Robert W. Cook will become FINRA’s new chief executive in the second half of 2016; his expected start date is August 15. It was also announced at that time that FINRA would move to a non-executive chair structure for its board governance.

Brennan joined the Board of Governors of the National Association of Securities Dealers (NASD) and remained on the Board following the merger of the NASD and New York Stock Exchange Regulation in 2007, a combination that gave rise to FINRA as the largest independent regulator for all securities firms doing business in the United States.

“Throughout his tenure on the boards of FINRA and its predecessor, as well as his many years leading Vanguard, Jack has been a tireless advocate for individual investors and liquid, fair markets,” said Ketchum. “During my tenure at FINRA, Jack has been a trusted adviser and partner, helping us develop a number of important programs to support our mission.”

“FINRA plays such a critical role in safeguarding and educating investors, while upholding the integrity of the most robust capital markets in the world,” said Brennan. “The entire Board and I look forward to working with Robert and all of FINRA’s constituents to accomplish FINRA’s mission.”

“Jack is widely respected throughout financial and regulatory circles as a champion of the individual investor with a commitment to fair, transparent and efficient markets,” Cook said. “He has an unwavering dedication to FINRA and its mission of investor protection and market integrity. I’m looking forward to a productive partnership with Jack and the entire Board of Governors.”