MSRB Names Marcelo Vieira Director of Research

Date: April 21, 2008

Contact:             Lynnette Kelly Hotchkiss, Executive Director
                          (703) 797-6600
                          lhotchkiss@msrb.org

                          Hal Johnson, Deputy General Counsel
                          (703) 797-6600
                          hjohnson@msrb.org


MSRB Names Marcelo Vieira Director of Research

Alexandria , VA - The Municipal Securities Rulemaking Board (MSRB) has appointed Marcelo Vieira as the Director of Research. Prior to his appointment, Vieira served as Vice President of Industry Research for the Securities Industry and Financial Markets Association (SIFMA), where he also held the positions of Research Analyst and Director of Market Statistics.

The MSRB Board recently approved the new position of Director of Research in order to provide data and statistical information to the broader municipal market. "Marcelo will provide the leadership and focus necessary to develop a significant research function at the MSRB" noted Frank Chin, MSRB Chairman. "Since disclosure documents and trade data are reported into the MSRB, we have the complete library of source data for the municipal market. The Board wanted to make this data more widely available to the entire market, with a special focus on retail investors" said Chin. As a member of the senior team at MSRB, Vieira will report to Hal Johnson, Deputy General Counsel.

Vieira has extensive experience in research and analysis throughout the securities industry on the domestic and global levels, most notably in municipal finance. Vieira's background also highlights his involvement with legislation and public policy development pertaining to the securities industry and the municipal bond market. "Marcelo is the perfect complement to our team" said MSRB Executive Director Lynnette Hotchkiss. "With an enhanced research function, the MSRB will continue to fulfill its mandate of promoting a fair and efficient municipal securities market. And making this information available on EMMA will best serve the interests of the retail investor."

Vieira received his Bachelor of Science in Finance from the University of Maryland. He is a member of the Fixed Income Analysts Society, Inc. and the Washington Association of Money Managers.


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.