MSRB Appoints John W. Young, II to the Board

Date: January 22, 2009

Contacts:         Lynnette Kelly Hotchkiss, Executive Director
                      (703) 797-6600

                      Jennifer A. Galloway, Chief Communications Officer
                      (703) 797-6600

Appoints John W. Young, II to the Board

Alexandria, VA - The Municipal Securities Rulemaking Board today announced that John W. Young, II, Managing Director of Municipal Underwriting and Public Finance Marketing at Samuel A. Ramirez & Co. Inc. in New York, has joined the Board as a securities firm representative.  The appointment of Mr. Young comes following the resignation of Michael Bartolotta, who stepped down from the Board after his firm was purchased by a bank.

"John has a wealth of experience that he will immediately bring to bear on the considerable work facing the Board this year," said MSRB Chair Ronald A. Stack.  "We are most pleased to have his perspective and input over the next three years."

Before joining Samuel A. Ramirez & Co., Mr. Young was a Senior Managing Director at Bear Stearns & Co., where he had worked since 1991, and was previously employed at Citibank in municipal finance.  He graduated from Hamilton College in Clinton, NY.

MSRB rules require that its 15 members are divided evenly among representatives of securities firms, banks and the public. It is not unusual for mergers or acquisitions of financial firms to affect the status of a Board member and for a replacement to be named.

Mr. Young will fulfill a three-year term on the Board that ends September 30, 2011. 

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.