The Nasdaq OMX Group (Nasdaq:NDAQ) today announced that Lee Shavel, an 18-year veteran of Bank of America Merrill Lynch, has been appointed as Chief Financial Officer and Executive Vice President of Corporate Strategy.
Mr. Shavel will join NASDAQ OMX effective May 23, 2011. Former NASDAQ OMX CFO David Warren will continue to serve as special advisor to the CEO and Ronald Hassen, Senior Vice President, Controller and Principal Accounting Officer will continue to serve as CFO in the interim.
"Lee has been a valued advisor to NASDAQ OMX for the past seven years on a variety of mergers and acquisitions, funding and capital transactions," said Bob Greifeld, Chief Executive Officer of NASDAQ OMX. "He brings both broad financial expertise and strategic perspective across key asset classes such as cash equities, commodities, derivatives and fixed income. We're pleased to have Lee join NASDAQ OMX in this critical role."
"I am thrilled to have the opportunity to join this exceptional management team which is known for its competitive success and delivering for its shareholders," said Mr. Shavel. "I look forward to contributing to that effort as CFO at NASDAQ OMX."
Mr. Shavel joins NASDAQ OMX from Bank of America Merrill Lynch where he served as Americas Head of Financial Institutions Investment Banking. Previously, he was Head of Finance, Securities and Technology and Global Chief Operating Officer for the Financial Institutions Group at Merrill Lynch. Mr. Shavel has advised on many notable securities industry transactions, including the sale of the New York Mercantile Exchange (NYMEX) to CME Group, the sale of International Securities Exchange (ISE) to Deutsche Borse, the acquisition of BRUT by NASDAQ and the merger of Archipelago and REDIBook. In addition he has advised on IPOs for NASDAQ, NYMEX, ISE, MF Global, Instinet and Archipelago and significant financings for NASDAQ, BNY Convergex, NYSE Euronext and CME Group among others.
Mr. Shavel joined Merrill Lynch in 1993 as an Associate, coming from Citicorp where he worked as an Associate in the Financial Institutions Group. He graduated with honors from the University of Pennsylvania with a B.S. in Econconomics from The Wharton School of Finance and a B.A. in English.