Penny Pennington, Managing Partner of financial adviser Edward Jones, has been elected as a large-firm governor of the FINRA Board of Governors at a special meeting of large-firm members. Pennington will fill the seat vacated by Christopher Flint when he resigned in June.

Pennington began her career at Edward Jones in 2000 as a financial adviser, became managing partner in 2019, and is the sixth managing partner and first woman to lead the firm in its 100-year history. She is responsible for the firm’s strategic direction, leading the Enterprise Leadership Team and is working with more than 50,000 associates across North America.

“We congratulate Penny on her election to the Board of Governors by our large-firm members,” said FINRA President and CEO Robert Cook. “We look forward to her contribution to the discussion of FINRA’s strategy, programs and operations.”

Straight out of Nashville

Pennington was born in Nashville, Tennessee, and she has a bachelor’s degree in commerce with a concentration in finance from the University of Virginia and a Master of Business Administration from the Kellogg School of Management at Northwestern University. She is also a graduate of the Securities Industry Institute at the University of Pennsylvania’s Wharton School and is a CFA charter holder.

“I am excited to join the FINRA Board of Governors and share my knowledge and experience to help FINRA fulfill its mission and achieve its objectives,” she said.

Pennington started her career at Wachovia Bank in 1984, and then moved on to Comerica Bank in 1996, before started at Edward Jones in 2000.

“Penny’s leadership experience and knowledge of the industry will make her a valuable contributor to the Board of Governors’ oversight of FINRA’s efforts to protect investors and ensure market integrity. We look forward to working with her,” said FINRA Chair Eric Noll.

22 governors

FINRA’s Board of Governors include 22 members, and consists of 10 industry members, 11 public members and one seat reserved for FINRA’s CEO. A public governor, Fabiola Arredondo, will join the Board of Governors in December.

The 10 industry seats include three governors from large firms, one from medium-size firms, three from small firms, one floor member, one independent dealer/insurance affiliate and one investment company affiliate. The governors are appointed or elected to three-year terms and may not serve more than two consecutive terms.