The National Futures Association (NFA) has appointed Thomas Sexton (pictured) as president and chief executive, effective 1 March 2017.
Daniel Roth, NFA's president and CEO, who announced his retirement in May 2016, will work closely with the board and Sexton during the transition.
This appointment is the culmination of an extensive search and selection process. In May 2016, NFA's board of directors authorised the formation of a search committee, chaired by Michael Dawley, NFA board chairman, and made up of existing board members and other individuals with significant knowledge of the derivatives industry and NFA's important regulatory role. The search committee engaged an executive search firm with extensive experience working in the financial services and regulatory sectors to assist in this important undertaking.
The search committee unanimously recommended Sexton for the role of president and CEO.
"Selecting a strong successor who will continue our mission has been of the utmost importance for NFA's board," says Dawley. "After going through a robust search process, the Board is even more confident that Tom is the right person to ensure that NFA fulfils its expanding regulatory responsibilities and addresses the new challenges in the years ahead. His deep understanding of the derivatives market and its regulatory framework will benefit NFA as it continues to evolve under his leadership."
"Over the past several years, Tom has been exposed to every facet of NFA's operations, from technology to swaps compliance to registration to NFA's finances. He has the support of the Board and the senior management team and is best positioned to extend NFA's current direction into the future," says Roth. "I can't think of anyone more qualified for this important role."
Sexton joined NFA in 1991 as an attorney and subsequently was promoted to assistant general counsel in 1998, and to general counsel and secretary in 2001.
"I am honoured to be selected as NFA's CEO," says Sexton. "I look forward to building upon Dan's success and working with NFA's board and staff, members, the CFTC and other industry leaders, to ensure NFA continues to safeguard market integrity."
