The Financial Industry Regulatory Authority (FINRA) today announced the appointment of James P. Donovan as Senior Executive Vice President for Technology and Strategy.
In addition to overseeing FINRA's corporate technology and strategy, Donovan is also responsible for registration and disclosure, market transparency facilities, member relations and FINRA's international program.
Donovan replaces Douglas Shulman, who was appointed Commissioner of the Internal Revenue Service by President George W. Bush. Shulman assumed his new duties in March.
"Jim's experience and proven leadership qualities will be a major asset to FINRA, as we meet the challenges of strengthening financial services regulation in this country and adapting to the new dynamics posed by globalization of the markets," said FINRA CEO Mary L. Schapiro.
Donovan brings more than 25 years of experience working in the securities industry. Most recently, he served as head of the securities industry division at the Society for Worldwide Interbank Financial Telecom (SWIFT), a global financial telecommunications company. Earlier, he spent 16 years at Citigroup, first as a vice president and later as a managing director responsible for technology, strategic development and product development in various global securities businesses. Donovan oversaw Citigroup's securities business operations in Europe, Asia, the Middle East and Japan.
Donovan is a graduate of New York's Fordham University, where he earned a Bachelor of Science degree in Marketing/Management.