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Contact: Jennifer A. Galloway, Chief Communications Officer
             (703) 797-6600
             jgalloway@msrb.org

MSRB SADDENED BY LOSS OF BOARD MEMBER GENE SAFFOLD

Alexandria, VA – The Board of Directors of the Municipal Securities Rulemaking Board (MSRB) expressed its sorrow today over the loss of one of its members, Gene R. Saffold, 57, who passed away October 8, 2012, following heart surgery. Mr. Saffold had just begun serving as a public member on the MSRB Board of Directors on October 1, 2012.

“Gene forged a distinguished career in public finance,” said MSRB Chair Jay Goldstone. “We are saddened by the loss of a friend and professional committed to the municipal market. We extend our deepest sympathies to his family.”

Mr. Saffold worked as an independent consultant on financial, strategic and operational matters. Prior to consulting, Mr. Saffold served as chief financial officer of the City of Chicago and previously was vice chairman - national accounts at J.P. Morgan Chase & Co., Inc. He also worked for Salomon Smith Barney, Inc. as managing director in the company's Midwest public finance group.

Mr. Saffold was a member of the Economic Club of Chicago and a board member of the Erikson Institute and the Chicago Low-Income Housing Trust Fund. 

Mr. Saffold is survived by his wife, Carol, and three children, Jessica, Christine and Nathan.

The Municipal Securities Rulemaking Board (MSRB) protects and strengthens the municipal bond market, enabling access to capital, economic growth, and societal progress in tens of thousands of communities across the country. The MSRB fulfills this mission by creating trust in our market through informed regulation of dealers and municipal advisors that protects investors, issuers and the public interest; building technology systems that power our market and provide transparency for issuers, institutions, and the investing public; and serving as the steward of market data that empowers better decisions and fuels innovation for the future. The MSRB is a self-regulatory organization governed by a 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.

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