Joseph Longino, the point man on accounting and regulatory matters at Sandler O'Neill & Partners LP, will join the advisory council of the Financial Accounting Standards Board next year.
Longino, a Sandler principal, was one of 13 recent appointees to the Financial Accounting Standards Advisory Council, which helps the FASB prioritize projects, set its agenda and do other things. Their one-year appointments take effect Jan. 1.
Longino is one of three representatives of the investor community. Kay Ryan Booth, managing director of Golden Seeds Fund, and Adam Hurwich, portfolio manager of Ulysses Management LLC, are the other two.
Fifteen members will leave the council including Joan Amble, corporate comptroller of American Express Co.; James Bothwell, president of Financial Market Strategies and a former managing director of the now-defunct Federal Housing Finance Board; and Richard Ramsden, managing director of Goldman Sachs & Co.
Twenty-one members of the council were reappointed.
Longino is a member of Sandler's investment strategy group and its top banker on supervisory, regulatory and accounting issues, according to his biography on the firm's website. He worked as an assistant director for corporate activities at the Office of Thrift Supervision before joining the New York investment bank in 1991.
Longino joined the council because "accounting issues are of fundamental importance" to the financial system, he said in a press release. "This is a critical time to ensure the right policies and practices are implemented," Longino says.
The FASB sets accounting rules for U.S. public companies. The advisory council is selected by the Financial Accounting Foundation, a nonprofit which oversees the standards board.