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NYSE Names New President, Chairwoman as Part of ICE Leadership Shakeup

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What You Need to Know

  • Lynn Martin will become the second female president of the NYSE; board member Sharon Bowen will become chair.
  • The new appointments are part of a greater overhaul of ICE management.
  • ICE founder, Chairman and CEO Jeff Sprecher said the changes are a response to an evolving marketplace.

The New York Stock Exchange has named Lynn Martin its 68th president, effective Jan. 3, 2022, as part of a broader leadership shake-up that also includes a new chairwoman, Sharon Bowen.

Bowen is a board member of the NYSE and Intercontinental Exchange, its parent company. She formerly served on the Commodity Futures Trading Commission and will replace Jeffrey Sprecher, who currently serves as chairman of the NYSE and ICE, its parent company.

Martin, who heads the fixed income and data services segment of ICE, will succeed Stacey Cunningham, the first female president of the NYSE, who will move on to the NYSE board of directors.

Martin will oversee the exchange as well as the entire NYSE Group, which also includes four fully electronic stock exchanges — NYSE Arca, the industry leader in ETFs; NYSE American, NYSE Chicago and NYSE National — and two options exchanges, NYSE American Options in New York and NYSE Arca Options, based in San Francisco. She will continue to serve as chair of ICE Fixed Income and Data Services as Amanda Hindlian, the current global head of capital markets at the NYSE, becomes its president.

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Other executive changes announced for the NYSE include:

  • Hope Jarkowski, former co-head of government relations at ICE and current head of equities at the NYSE, will become the NYSE’s general counsel, replacing Elizabeth King, ICE’s chief regulatory officer, who will add responsibilities for ICE ESG, a recent product initiative that works with the CEOs of NYSE-listed firms to identify diverse candidates for boards of venture-funded and newly public companies.
  • Mark Heckert, chief product officer of ICE Fixed Income and Data Services, will also assume leadership of the index and desktop areas of the segment as he broadens his duties.
  • Mark Wassersug, ICE’s chief operating officer, will become ICE’s chief information officer, overseeing industry leading technology implementations and working closely with Mayur Kapani, ICE’s chief technology officer.
  • Stuart Williams will succeed Wassersug as chief operating officer of ICE, reporting to ICE President Ben Jackson, and will remain president of ICE Futures Europe until a successor is chosen.
  • Trabue Bland, president of ICE Futures U.S., will oversee all of ICE’s futures exchanges and  continue to report to Jackson
  • Jennifer Ilkiw, now head of ICE Asia Pacific, will relocate to New York to serve as president of ICE Futures U.S.
  • Chris Edmonds, who leads ICE’s clearing businesses, will expand his role as as chief development officer of ICE, adding oversight of ICE’s marketing and communications

In a letter shared with ICE’s nearly 10,000 employees on Monday, ICE founder, Chairman and CEO Jeff Sprecher explained: “It’s more important than ever to challenge our leaders to take on new tasks and acquire new skills as we serve a new and ever evolving marketplace. All around us, the world is changing. The market environment in 2021 is vastly different than when we began our journey in 2000.”

Since Sprecher and his colleagues founded ICE over 20 years ago to make trading more automated and transparent and focus on energy trading, ICE has transformed into a company with more than $70 billion in assets and net revenue of $1.8 billion in the third quarter, its best third quarter in history.

“Our Board of Directors and I have total confidence this group of seasoned professionals will take ICE to new heights, leading our team all over the world, collaborating across businesses, and innovating continuously to unlock additional growth opportunities in the months and years ahead,” Sprecher added.