|
CNBC'S MOST SHARED
- A Goldman Trading Scandal?
- Rich People With A Death Wish
- Facebook Director Sees 'Billions' in Revenue in 5 Years
- The Threat of Ballooning Pensions
- Lehman CEO: Firm Deserved Bailout or 'Wind Down'
- FedEx Sees Signs of a Turnaround: Report
- Texting And Driving Worse Than Drinking and Driving
- Market's Monday Blues
- Hey, What's Up Doc?
- Judge Gives Control of Jackson Estate to Executors
- Second Half: Wait For Pullbacks, Then Buy the Best
- Accused Ex-Goldman Sachs Programmer Out on Bail
- Used Video Game Sales Soar: So Who Wins?
- Discover Shares Fall on Word of Stock Offering
- The Weirdest Currencies on Earth
- Recession Special: Wine Cheaper Than Water!
- GM to Get Final $20 Billlion From US This Year
- California General Obligation Bond Rating Cut
- Get the Full Rundown of Today's US Business News Here
- March Lows Will Hold — So Buy Equities: Strategists
- Lacoste Runs Full Page Ad With Roddick Loss
- Brandt: Bing, The Little Search Engine That Couldn't
- 5-Star Manager's 5 Top Stocks
- Hey, What's Up Doc?
- Busch: Summertime Blues Hits Investors
- Chadwick: Recession and Scandals Pave the Way for Romney 2012
- Art Cashin: The S&P's 'Head and Shoulders' Number
- Michael Jackson: Death And Taxes
Text Size 
NYSE Group's [NYX
Loading...
()
] appointment of Duncan L. Niederauer as president and co-chief operating officer makes him the clear heir apparent to John Thain, according to CNBC's Gasparino.
Niederauer, currently a managing director of investment bank Goldman Sachs, will oversee U.S. cash equities operations at the operator of the New York Stock Exchange. His appointment is effective April 9.
The appointment comes as "Thain's unofficial timetable for stepping down as NYSE chief quickly approaches," Gasparino said. "When he took the job in late 2003, Thain set a three-to-five year timetable and that puts the due date roughly in 2009 which is only two years away."
Gasparino also said that Niederauer, a long-time advocate of electronic trading, will likely put "the final nail in the coffin" in the open outcry specialist system.
"He's been advocating the replacement of specialists with computers, which he consider more efficient and less open to fraud," he said.
The NYSE's current president and co-COO Gerald R. Putnam will become vice chairman with responsibility for technology, product development and options.
Catherine R. Kinney will continue to serve as president and co-COO along with Niederauer, and will be responsible for NYSE Group's global listings business, which includes listings sales and client services and NYSE Group's market data business.
Print
Email
Data is a real-time snapshot *Data is delayed at least 15 minutes