The Certified Financial Planner Board of Standards Inc. has named Sarah Ball Teslik, executive director of the Council of Institutional Investors, as its new chief executive.

She replaces interim CEO Gary Diffendaffer, who stepped in to fill the position when former CEO Louis J. Garday resigned in July 2003, to return to the private sector. Teslik, who served at the CII for 16 years, will step into her new position at the CFP Board by Jan. 1.

"For more than a decade and a half, I have been in a position to look after the interests of the institutional side of the marketplace. Now, I have the opportunity in working for the CFP Board to do the same thing in the other half of the market, the half that is composed of individual investors," Teslik said. "At a time of shrinking government resources, it is critical that the public receives the best possible financial planning from the best available practitioners."

At CII, Teslik managed the organization's staff, operations, finances and legal activities carried out on behalf of major institutional investment entities managing $3 trillion. She has also served as a member of the Financial Accounting Standards Board and New York Stock Exchange committees.

Prior to joining CII, Teslik worked at the law firms Willkie Farr & Gallagher and Stroock & Stroock & Lavan.

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