In a gala event at the New York Stock Exchange on Nov. 17, FEI inducted Susan Schmidt Bies and John F. (Jack) Ruffle into the Financial Executives International Hall of Fame. The event--co-sponsored by Microsoft Corp., several other major corporations and FEI chapters (see box on next page)--recognizes individuals who epitomize performance, leadership and integrity throughout their careers.
Bies is a former member of the Board of Governors of the Federal Reserve; Ruffle is a former vice chairman and director of J.P. Morgan & Co. and Morgan Guaranty Trust Co. of New York.
The FEI Hall of Fame, a fundraiser for Financial Executives Research Foundation, began in 2006 as a career history of strong leadership ethics and innovation--values that have been critical to FEI since its founding in 1931.
More than 200 guests attending the black-tie event enjoyed a cocktail reception on the trading floor of the famed exchange, and then moved to the main dining room for dinner and the induction ceremony.
Bob Pisani, CNBC's "On-Air Stocks" editor, served as master of ceremonies for the induction.
You are all leaders, and that is why you are here," Pisani said, welcoming the audience "You are privileged to be here."
Pisani introduced Frank Brod, corporate vice president Finance and Administration and chief accounting officer for Microsoft. Brod said that Microsoft was founded on the principle of innovation. "We all need to be innovative and positive," he added.
Following dinner, Pisani introduced U.S. Securities and Exchange Commission Chairman Christopher Cox, who presented Bies.
Cox lauded Bies as a powerful choice for the Hall of Fame, because of her integrity and responsibility. He recounted when the Gramm-Leach-Bliley Act of 1999 was enacted, there was a disagreement between the Federal Reserve and the SEC over how the new law should be implemented. Bies, he said, led monthly meetings for a year to build consensus and resolve the issue. "Today, bankers, investors and markets are all better off," Cox said. "Everyone here tonight owes you a debt of gratitude, he told Bies."
Bies thanked FEI for inducting her into the Hall of Fame. "FEI was important to me in achievinq what I have in my career," she said. "Many things lately are extreme forms of what we've experienced before," she said, referring to the current financial market turbulence. "Unfortunately, many of us forgot to pass those lessons on to those who succeeded us."