Nasdaq recruits SunGard exec as new CEO

Nasdaq recruits SunGard exec as new CEO

Nasdaq has recruited Sungard executive Robert Greifeld to succeed Wick Simmons as president and chief executive officer of the US tech stock market.

Forty-five-year old Greifeld will take his place at Nasdaq on 12 May alongside newly-elected non-executive chairman Furlong Baldwin.

From 1991 to 1999, Greifeld served as president and COO of Automated Securities Clearance, and takes credit for the development of the Brass trade order management system and the founding of the Brut ECN. After SunGard acquired ASC in March 1999, Greifeld rose to become corporate vice president and group CEO of SunGard Brokerage Systems. He currently serves as executive vice president with responsibility for all of SunGard's sell-side businesses and buy-side transaction routing businesses.

Incoming chairman Baldwin, 71, served as CEO of Mercantile Bankshares Corporation in Baltimore from 1976 to 2001, retiring in March 2003 as chairman and director.

He says of Greifeld: "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. "

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