York: The board of directors of Nasdaq has announced
that it has named Robert Greifeld president and chief
executive officer and elected him to the board.
Furlong Baldwin, former chairman of Mercantile Bankshares
Corporation and chairman of the management compensation
committee of the Nasdaq Board, has been elected non-executive
chairman. Both appointments are effective 12 May 2003.
45, comes to Nasdaq from SunGard Data Systems Inc. With
annual revenues of more than $2.5 billion, SunGard is
the pioneer and leading global provider of integrated
IT solutions for financial services, including transaction
processing services for the financial industry, and also
is a leading provider of information availability services.
He serves as executive vice-president with responsibility
for all of SunGard''s sell-side businesses and buy-side
transaction routing businesses.
succeeds Hardwick (Wick) Simmons as chief executive. Simmons
announced in December his intention to retire in 2003
when his replacement was selected.
71, served as chief executive officer of Mercantile Bankshares
Corporation in Baltimore from 1976 to 2001, and in March
2003 he retired as chairman and director.
Baldwin: "Bob Greifeld brings a rare combination
of talents to the table at a critical juncture in Nasdaq''s
history. Bob is a seasoned operational manager with deep
knowledge of the market and the needs of market makers
and other market participants. He is eminently qualified
to lead and change Nasdaq as it grapples with a rapidly
evolving business landscape.
board believes that Nasdaq''s future depends on the kind
of dynamic leadership Bob will provide. In addition to
vast market expertise that will allow him to move forward
quickly in his new role, he brings new energy and fresh
perspective that will keep Nasdaq a strong, active marketplace
and strengthen its competitive edge.
branched out from his background in technology, Bob has
a successful 15-year track record running efficient, for-profit
businesses. He has extensive experience in both the front-
and back-office aspects of the market, and has been an
innovator, creating one of the earliest electronic communications
networks [ECNs]. Greifeld is also familiar with the regulatory
landscape and the relationships required to guide the
organisation within the rules of the markets."
Greifeld: "I am pleased to be joining Nasdaq at this
exciting time in its development, as it continues to transition
to a publicly traded, for-profit enterprise. I look forward
to working with the experienced Nasdaq management and
staff and particularly with the
3,600 companies who make Nasdaq their home. Nasdaq is
the largest all-electronic stock market in the world.
It is the stock market of the future."