MSRB Announces Operations and Technology Leadership Transition

Date: November 11, 2016

Contact:  Jennifer A. Galloway, Chief Communications Officer


Washington, DC — The Municipal Securities Rulemaking Board (MSRB) announced today that Al Morisato, Chief Operations and Technology Officer, will be leaving the MSRB in April 2017. The MSRB is transitioning his responsibilities to the existing operations and technology leadership team, which has been in place for the last five years. John Bagley, Chief Market Structure Officer, will assume a more active role in overseeing operations and technology functions at the MSRB, in addition to providing oversight for market structure related activities.

“On behalf of the Board of Directors, we want to thank Al for all his contributions over the years, “said Colleen Woodell, Chair of the Board. “Under Al’s leadership, the quality and reliability of our complex market transparency systems have been exceptional.”

Al joined the MSRB in 2009 as Chief Information Officer and later assumed responsibility for operations. The MSRB operates numerous market transparency systems, including the Electronic Municipal Market Access (EMMA®) website, which are supported by a technology robust architecture.

“Al has led the implementation of technological advancements and agile development processes that that have delivered countless benefits for municipal market transparency, most notably through the EMMA® website,” said Lynnette Kelly, MSRB Executive Director. “We are grateful for all the behind-the-scenes work he performed over the years and will miss his leadership and vision for developing solutions that supported the municipal securities industry.”

The MSRB protects investors, state and local governments and other municipal entities, and the public interest by promoting a fair and efficient municipal securities market. The MSRB fulfills this mission by regulating the municipal securities firms, banks and municipal advisors that engage in municipal securities and advisory activities. To further protect market participants, the MSRB provides market transparency through its Electronic Municipal Market Access (EMMA®) website, the official repository for information on all municipal bonds. The MSRB also serves as an objective resource on the municipal market, conducts extensive education and outreach to market stakeholders, and provides market leadership on key issues. The MSRB is a self-regulatory organization governed by a 21-member board of directors that has a majority of public members, in addition to representatives of regulated entities. The MSRB is overseen by the Securities and Exchange Commission and Congress.