Michael Bright, who tendered his resignation as acting president of Ginnie Mae, is headed for a securitization industry trade group.
The Structured Finance Industry Group announced Thursday that it had named Bright as its president and CEO, effective Jan. 21. The post has been vacant since Richard Johns resigned in July amid a reported split with the group’s board over compensation and advocacy results.
Bright will lead SFIG’s education, policy and advocacy initiatives, which include initiatives central to the mortgage industry, such as housing finance reform and private label mortgage securitization as well initiatives that affect a broader range of asset classes, including regulatory capital and liquidity, risk retention, credit rating reform and marketplace lending. He will report to SFIG’s board of directors.
Bright has extensive experience as a policymaker, practitioner and leader across all aspects of the securities industries. At Ginnie Mae, he managed operations for a $2.0 trillion portfolio of mortgage-backed securities.
He brings a track record of policy making from his time on the staff of U.S. Sen. Bob Corker and the Senate Banking Committee. Before joining Ginnie Mae in 2017, Bright was a director at the Milken Institute’s Center for Financial Markets, where he led the institute’s housing program. He was previously a member of BlackRock’s financial advisory unit.
At SFIG, he will have a broad constituency of 350 securitization industry participants including both issuers and investors.
“The securitization industry plays a fundamental role in our economy and it is vital that policymakers and the industry work constructively together as the market continues to evolve.” Bright said in SFIG’s press release. “I look forward to working with all of our members to represent the diverse views of this critical field and continuing to provide meaningful education, advocacy and connection for our members across all aspects of securitization.”
In the same press release, Howard Kaplan, chair of SFIG’s board of directors, said that Bright’s “hands-on leadership experience in the financial markets and expertise with legislative and policy initiatives will be a significant asset for our members.”
The trade group’s operating committee, Covell Adams, Sairah Burki, Dan Goodwin, Kristi Leo and Leslie Sack, also noted Bright’s “track record of policymaking along with his notable operating experience.”