Compliance Newsflashes: NASD Head Glauber to Retire, Schapiro to Take Over, and more
NASD Chairman and CEO to Retire
Robert Glauber, who has served as Chairman and CEO of the NASD for nearly six years, announced his intention to retire at the end of August. He plans to return to Harvard as a visiting professor in its Law School.
The NASD announced in January that Glauber will be succeeded by Mary Schapiro, NASD's vice chairman and president of its Regulatory Policy and Oversight Division.
"I came to NASD six years ago with the goal of transitioning the organization away from owning markets and focusing it solely on its regulatory mission," Glauber said, in a release. "With NASD's recent sale of its last remaining stake in NASDAQ and with the SEC approval of NASDAQ's request to operate as an exchange beginning August 1, NASD has succeeded in making that transformation. Leaving now will allow me to join the Board of Directors of Freddie Mac, which I anticipate doing in September, consider a couple of other corporate board opportunities, and return to Harvard a bit sooner."
Earlier in his career, Glauber served as Under Secretary of the Treasury for Finance from 1989 to 1992. Prior to joining Treasury, he was a professor at the Harvard Business School and after leaving Treasury, a lecturer at Harvard's Kennedy School of Government.