Washington, D.C., November 2, 2017 – SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., president and CEO of SIFMA, on the nomination of Federal Reserve Governor Jerome Powell as Chairman of the Federal Reserve:

“SIFMA congratulates Jerome Powell on his nomination to be the next Chairman of the Federal Reserve. Governor Powell’s tenure and experience at the Federal Reserve, Treasury, and in the industry should give markets and investors great confidence that he will provide a steady hand in guiding this critical function.”

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SIFMA is the voice of the U.S. securities industry. We represent the broker-dealers, banks and asset managers whose nearly 1 million employees provide access to the capital markets, raising over $2.5 trillion for businesses and municipalities in the U.S., serving clients with over $18.5 trillion in assets and managing more than $67 trillion in assets for individual and institutional clients including mutual funds and retirement plans. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.