“Former Sen. Judd Gregg is trying to balance Wall Street’s need to fix its public image with the impulse to protect its livelihood from policymakers.

Gregg, a Republican who retired from the Senate in 2011 after three terms, became chief executive officer of the Securities Industry and Financial Markets Association last month. The trade group represents broker-dealers, investment banks and asset managers — including some owned by big banks.

Gregg, 66, was governor of New Hampshire and held one of its House seats before joining the Senate, where he was chairman of the Budget Committee and served on the Banking Committee. More recently, he worked as an advisor for Goldman Sachs.

In a recent interview in Chicago, Gregg discussed regulatory threats to the derivatives and secondary mortgage markets as well as his thoughts on “too big to fail,” consolidation and the prospects for an economic boost from the energy sector.”

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