WASHINGTON -- Richard D. Thayer, president of Citizens and Southern Securities Corp. in Atlanta, has been elected chairman of the Municipal Securities Rulemaking Board for the fiscal year beginning Oct. 1, the MSRB announced Friday.

Harry R. Larson, president of First Chicago Capital Markets Inc. in Chicago, also was named vice chairman for the coming year, the MSRB said.

Mr. Thayer replaced David Hartley, a senior partner with Stone & Youngberg in San Francisco, and Mr. Larson replaces R. Fenn Putman, executive vice president and a managing director of Dean Witter Reynolds Inc. of New York.

Mr Thayer, a dealer bank representative whose term on the board expires Sept. 30, 1992, has been president of Citizens and Southern Securities Corp., the brokerage arm of Citizens and Southern National Bank, since 1990. He was senior vice president in charge of the securities administration division of South Carolina National Bank from 1988 to 1990 and had been the manager of municipal securities activities for Citizens and Southern National Bank from 1980 to 1988.

He is a member of the executive committee of the funds management and capital markets division of the American Bankers Association and a member of the Public Securities Association. He also served on the board of the defunct Bank Capital Markets Association.

Mr. Larson, also a dealer bank representative whose board term expires Sept. 30, 1992, has been president of First Chicago Capital Markets, the securities subsidiary of the First National Bank of Chicago, since 1989. He was president of Chemical Securities Inc. from 1988 to 1989, after serving as a managing director of Chemical Bank with responsibility for the municipal bond department from 1985 to 1988.

Mr. Larson also had served for six years as senior vice president and manager of the municipal bond department at First Interstate Bank of California. He is a member of the Public Securities Association and served on the district 12 business conduct committee of the National Association of Securities Dealers Inc.

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