NEW YORK, Nov. 13, 2006 (PRIMEZONE) -- The Nasdaq Stock Market, Inc. ("NASDAQ(r)"); (Nasdaq:NDAQ) announced today that Robert H. McCooey, Jr. has been appointed Senior Vice President to lead a new unit within NASDAQ, the Capital Markets Group. Mr. McCooey joins NASDAQ from The Griswold Company, a NYSE floor broker, where he was a founder and served as the firm's President and Chief Executive Officer.
In his new role, McCooey will manage NASDAQ's efforts to engage private equity firms, investment banks, and institutional investors on key NASDAQ issues, initiatives and services, aimed at enhancing their experience with NASDAQ and supporting their business goals and growth plans.
The Capital Markets Group will be the first centralized group at NASDAQ that examines customer needs across all NASDAQ business units to further NASDAQ's mission among private equity, investment banks and institutional investors. Mr. McCooey will report to Adena Friedman, Executive Vice President and Head of Strategy.
"Bob founded and lead a successful floor brokerage, and he has shown leadership in understanding and anticipating the needs of his customers. He has also been a noted voice on the future direction of Wall Street. We are delighted to have Bob join our management team in this critical new role," said Adena Friedman, Executive Vice President of NASDAQ.
McCooey spearheaded the founding of The Griswold Company in 1988, an agency only execution firm which serves prominent and developing buy-side institutions. He has served on the NYSE Group's Market Performance committee and was chairman of the NYSE's Technology and Planning Oversight committee. In addition, he has served on the Board of the NYSE Foundation, which he joined in 2003; the board of the Securities Industry Automation Corporation (SIAC), the technology subsidiary of the New York Stock Exchange and the American Stock Exchange; and on the Committee for Review, part of NYSE Regulation. Bob served on the New York Stock Exchange Board of Executives from 2003-2006 and was a New York Stock Exchange Floor Official for eight terms. McCooey has been a regular guest on CNBC and has often been quoted in national news publications regarding stock market activity.
"There is a high level of momentum at NASDAQ that I believe is indicative of the talented management team in place and the market changes they have been able to drive, embrace and leverage," said Bob McCooey. "I am looking forward to joining this very dynamic organization and to reaching out to the Wall Street community in my new role."
NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at http://www.NASDAQ.com or the NASDAQ Newsroom at http://www.NASDAQ.com/newsroom/.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein may contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may include, but are not limited to, statements about the nature, timing and expected benefits of the hire of Robert H. McCooey, Jr. and the NASDAQ Capital Markets Group. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ's control. These factors include, but are not limited to factors detailed in NASDAQ's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.