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Contact:  Jennifer A. Galloway, Chief Communications Officer
               202-838-1500
               jgalloway@msrb.org

MSRB ANNOUNCES OPERATIONS AND TECHNOLOGY LEADERSHIP TRANSITION

Washington, DC — The Municipal Securities Rulemaking Board (MSRB) announced today that Al Morisato, Chief Operations and Technology Officer, will be leaving the MSRB in April 2017. The MSRB is transitioning his responsibilities to the existing operations and technology leadership team, which has been in place for the last five years. John Bagley, Chief Market Structure Officer, will assume a more active role in overseeing operations and technology functions at the MSRB, in addition to providing oversight for market structure related activities.

“On behalf of the Board of Directors, we want to thank Al for all his contributions over the years, “said Colleen Woodell, Chair of the Board. “Under Al’s leadership, the quality and reliability of our complex market transparency systems have been exceptional.”

Al joined the MSRB in 2009 as Chief Information Officer and later assumed responsibility for operations. The MSRB operates numerous market transparency systems, including the Electronic Municipal Market Access (EMMA®) website, which are supported by a technology robust architecture.

“Al has led the implementation of technological advancements and agile development processes that that have delivered countless benefits for municipal market transparency, most notably through the EMMA® website,” said Lynnette Kelly, MSRB Executive Director. “We are grateful for all the behind-the-scenes work he performed over the years and will miss his leadership and vision for developing solutions that supported the municipal securities industry.”

The Municipal Securities Rulemaking Board (MSRB) was established by Congress in 1975 with the mission to protect investors, issuers and the public interest and to promote efficiency, competition and capital formation. MSRB is a private, self-regulatory organization governed by an independent board of directors with market knowledge and expertise. MSRB does not receive federal appropriations and is funded primarily through fees paid by regulated entities. MSRB is overseen by Congress and the Securities and Exchange Commission.

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