The Securities Industry and Financial Markets Association announced Wednesday that Saima S. Ahmed has been appointed executive vice president and general counsel of the organization, a key legal position for one of the muni industry's leading advocacy groups.
She will be leading a team of lawyers focused on compliance, litigation, and regulatory issues while overseeing relations with regulators and outside council, SIFMA announced.
"I am honored to join SIFMA and look forward to working with the talented lawyers within the office of the general counsel and the entire SIFMA staff," said Ahmed. "SIFMA is the preeminent trade association representing the U.S. securities industry, and I am very excited to work with such a talented group of professionals on behalf of the industry."
Ahmed's duties will include serving on of SIFMA's operating and management committees as well as the SIFMA compliance and legal society executive committee. She will be based in the New York office and will report for duty this October. Ahmed is checking out from her current position as senior director and head of the market watch and corporate actions groups of the New York Stock Exchange.
"We are excited to have Saima join SIFMA as our new general counsel," said SIFMA president and CEO Kenneth E. Bentsen, Jr. "Saima's extensive experience as a litigator, regulator and manager will be a tremendous asset to SIFMA and our members, as well as a complement to our outstanding legal team."
The change in SIFMA leadership does not come as a surprise as Ahmed is taking over the position currently held by Ira Hammerman. In January, Hammerman announced plans to retire by the end of this year after more than 18 years with SIFMA.
Hammerman received praise at the time of his announcement, and more was forthcoming Wednesday as Bentsen thanked him for his work on SIFMA's behalf. When Hammerman joined SIFMA, the organization was still known as Securities Industry Association. He helped oversee the 2006 merger of the SIA and The Bond Market Association which created SIFMA.
"I congratulate Saima on her appointment and look forward to a seamless transition in the coming months on behalf of the SIFMA member community," said Hammerman.
Ahmed's previous positions include stints as director, NYSE regulation and deputy head of the surveillance & investigations group, senior enforcement attorney at the Securities and Exchange Commission and special assistant U.S. attorney for the Southern District of New York. She received her Bachelor's in Industrial and Labor Relations from Cornell University and her JD with honors from George Washington University Law School.
