The American Securities Association (ASA), which represents the interests of the country’s top Main Street financial services companies, recently announced multiple changes to its executive leadership.
Stifel Financial Corp. CEO and Chairman Ronald J. Kruszewski has been named the new chairman of ASA and veteran Washington financial services policy leader Christopher Iacovella has been tapped to serve as CEO.
Both professionals will be tasked with striving to achieve ASA’s stated goal of shaping public policy in ways intended to increase economic opportunity in communities throughout the country.
“ASA’s members are working hard in our local communities to create good-paying jobs, increase economic opportunity and create and preserve wealth for generations of Americans,” Kruszewski said in a press release. “We look forward to continuing to expand our presence in Washington and working with policymakers to promote the interests of our members and our customers.”
Iacovella noted the growth ASA has seen in the two years since its inception.
“The ASA has increased its presence in Washington since its establishment in 2016 by exclusively representing the wealth management and capital markets interests of our Main Street financial services companies,” Iacovella said. “We will continue to work on a bipartisan basis to promote trust and confidence among investors, expand financial inclusion, better protect consumers, and ensure our capital markets are fair, efficient and competitive.”
The ASA also named as its new head of public affairs Adam Rice, who previously worked as the communications director for the Financial Services Roundtable and in senior strategic communications roles for the House Financial Services Committee and former Subcommittee Chairman Randy Neugebauer (R-Texas).
Iacovella previously served as CEO of the Equity Dealers of America (EDA), having launched the organization in 2016. He branded it with policymakers and regulators, and substantially expanded its membership, according to the release. Prior to founding EDA, he worked at Bloomberg, L.P. as the company’s senior director of global government affairs, strategy, and public policy.
Iacovella also brings public sector experience to the table for ASA. He served as a senior policy advisory and legal counsel at the Commodity Futures Trading Commission (CFTC) and for the House Financial Services Committee. Before that, he worked in many other capacities within the financial industry – as a bond broker, on a fixed income derivatives desk and as a structured finance, capital markets and merger and acquisition attorney.
Kruszewski has been CEO of Stifel since 1997. He also serves on the board of directors for the Securities Industry and Financial Markets Association (SIFMA) and the American Securities Association (ASA). He was reappointed by the St. Louis Federal Reserve Board of Directors to serve a one-year term on the Federal Advisory Council for 2018.
Kruszewski is active in community affairs as well, serving on the St. Louis Regional Chamber Board of Directors and as chairman of Downtown Now! He also is a past chairman of the Board of Directors of Downtown St. Louis Partnership, Inc. and past non-executive chairman of the Angelica Corporation board of directors.