Friday, January 21, 2022

NYSE Changes Leadership As Cunningham Steps Down

The Intercontinental Exchange announced a series of leadership changes, including the appointment of Lynn Martin as president of the New York Stock Exchange to replace current head Stacey Cunningham.

Martin, 45, will become the third woman to head the NYSE after Cunningham steps aside and joins the exchange’s board of directors, the company said in a letter sent to employees on Monday. ICE also appointed Sharon Bowen as the next chairman of the NYSE, replacing Jeff Sprecher, the current chairman and CEO of ICE.

Martin will officially take over his new role as president on January 3, according to a posting on the company’s website.

Cunningham, 47, is a senior female banker and the 67th President of the NYSE, where she once had an internship. She has held leadership roles including Chief Operating Officer and took over as President in 2018.

“Stacy led the NYSE in an extraordinary era where her technology was resilient and her trading systems flourished even in the most turbulent times,” Sprecher said in a letter. “She starts a new chapter with a stronger and stronger exchange of views for her tireless efforts and with our deepest gratitude.”

Martin runs ICE Fixed Income and Data Services. She will continue to chair the business, with Amanda Hindlian, a Goldman Sachs veteran and currently head of the NYSE’s global director of capital markets, will take over as its new president.

“I don’t accept the phrase“ We have always done this, ”Martin said in his web message. “Because with that kind of mindset, you can’t grow and innovate.”

Other management changes include Hope Yarkovski, formerly co-head of ICE’s government relations department and currently head of stocks at the NYSE, who will become her general advisor, replacing Elizabeth King.

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