By John Burton
RED BANK – One of the names that was on Tuesday’s primary election ballot will not be there on Nov. 4 when voters return to the polls.
Brian Hanlon, one of two Republicans slated to run for the two borough council seats available this year, said this week he was withdrawing from the race, due to objections expressed by his employer over his running for office.
“They denied approval,” Hanlon said.
Hanlon, 45, works as the director of investments for Oppenheimer and Company, 3 Harding Road, and has been working for the financial firm since 2009.
His company was concerned over possible conflicts of interest that may arise from his holding an elected office, Hanlon said.
Hanlon believed his local and national bosses had signed off on it, though he said he moved forward, declaring his candidacy, before being assured of his employer’s approval.
“But it appears they don’t want to deal with this,” fearing additional scrutiny from the Financial Industry Regulatory Agency (FINRA), he said.
FINRA is an independent self-regulatory organization authorized by Congress to oversee the financial services industry.
John Minton, Red Bank’s Republican municipal chair, said he was “disappointed” by the development.
“It’s regrettable because he’s a very intelligent young man, an attractive candidate,” Minton said.
Minton said he hoped employers would be “more understanding” when their employees wanted to run for office and noted that other elected officials in surrounding communities work in the financial sector whose employers –though not Oppenheimer – do not have a problem with it. “If there is a conflict, they simply recuse themselves,” Minton said.
The party will look to name another candidate to run in the general election, Minton said.
The Monmouth County and local political organization have until Sept. 11 to name a successor for the November ballot, according to Bertha Sumick, the county special deputy clerk of elections.
Hanlon has lived on Arthur Place since 2007 with his wife and two young daughters. He previously served as a member of the borough’s Parks and Recreation Committee for three years, and prior to that, served on the borough’s Environmental Commission for three years.
He was slated to run on the GOP ticket with Sean Di Somma, who ran unsuccessfully last year for borough council. Di Somma and the to-be-named candidate will be squaring off against incumbent Democrats Edward Zipprich and Juanita Lewis.
Hanlon has not ruled out another run for office in the future if circumstances permit and expects to remain active on the political front. “I’m not going anywhere,” he said.
