Rick Ketchum, chairman and CEO of the U.S. Financial Industry Regulatory Authority (FINRA) is planning to retire next year, the self-regulatory organization announced on Friday.

Ketchum, 64, is set to retire in the second half of 2016, according to the announcement, and the FINRA that board will carry out a search for his successor that will consider both internal and external candidates.

Prior to heading FINRA, Ketchum was CEO of NYSE Regulation. He also spent 12 years at the NASD and The Nasdaq Stock Market, Inc., where he served as president of both organizations. Before that, he was the director of the division of market regulation at the U.S. Securities and Exchange Commission (SEC).

“I’m proud of FINRA’s achievements over the past six years,” says Ketchum in a statement. “FINRA is well-placed to continue to play an important role in educating and protecting investors in the years ahead.”

“FINRA has thrived under Rick’s leadership, and we look forward to his continued guidance over the next many months,” says Lead Governor Jack Brennan, former CEO of Vanguard Group. “His stewardship began in the aftermath of the financial crisis when public trust in the financial system was at an historic low.

“Rick has had a distinguished career as a regulator and practitioner who has been at the forefront of every major milestone in the evolution of the U.S. securities markets over the last 40 years,” says Kenneth Bentsen, Jr., president and CEO of the U.S. Securities Industry and Financial Markets Association (SIFMA). “He has made his mark in ensuring a robust, efficient and pro-investor marketplace, and we wish him all the best in his retirement.”