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Will pursue new types of financial listings: NYSE's first woman president

Cunningham, 43, who began her career as a summer intern at the NYSE over two decades ago will assume charge as the 67th president of the exchange on Friday.

May 23, 2018 / 02:06 PM IST

Stacey Cunningham, who is set to become the first woman president of the New York Stock Exchange has said that she would pursue new types of financial listings and work to reverse the decline of international public offerings.

Cunningham, 43, who began her career as a summer intern at the NYSE over two decades ago will assume charge as the 67th president of the exchange on Friday.

Cunningham will be succeeding Thomas Farley, who has served in that role since 2014, the exchange's parent Intercontinental Exchange Inc, announced.

Calling her appointment "a full circle story for me," Cunningham told CNBC that she would pursue new types of financial listings and work to reverse the decline of international public offerings.

"We absolutely want to see companies continue to access the public markets," she said.

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She called the exchange "home" and said she loves being a part of it, she acknowledged that very few women work in finance and technology.

"It's a male-dominated environment," she said, adding that "it hasn't changed quite as rapidly as some other industries have changed."

Cunningham, currently the Chief Operating Officer of NYSE Group, started as a summer intern on the NYSE floor in 1994 and became a floor clerk on the NYSE trading floor in 1996 and will now become the 67th President of the New York Stock Exchange in its 226-year history, it said.

As Cunningham ascends to her new role, John Tuttle, currently the NYSE's Global Head of Listings will become Chief Operating Officer of NYSE Group.

"As our COO, Stacey Cunningham successfully managed our equities, equities derivatives and ETF businesses, distinguishing herself as a customer-focused leader who is respected across our industry," said Jeff Sprecher, Chairman and CEO of Intercontinental Exchange and Chairman of NYSE Group and the New York Stock Exchange.

Sprecher said more than a half century after Muriel Siebert became the first woman to own a seat on the NYSE, Cunningham represents "a new generation" of leadership for the NYSE Group.

NYSE Group's equity exchanges -- the New York Stock Exchange, NYSE American and NYSE Arca -- trade more US equity volume than any other exchange group. The NYSE is the premier global venue for capital raising, leading worldwide in IPOs, including technology IPOs.

With Cunningham's promotion, two of the world's biggest stock-exchange operators will be run by women, both the NYSE and Nasdaq Inc. Adena Friedman was appointed as the chief executive of Nasdaq in January, 2017.
Reuters
first published: May 23, 2018 01:59 pm

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