DOW JONES NEWSWIRES
Nasdaq OMX Group Inc. (NDAQ) said it has tapped
financial-industry veteran Lee Shavel as its new chief financial
officer, replacing former CFO Adena Friedman, who left in
March.
The exchange company said Shavel will start as CFO on May 23. He
joined Merrill Lynch in 1993 as an associate and was most recently
at Bank of America Merrill Lynch, serving as Americas head of
financial institutions investment banking.
Shavel also will serve as executive vice president of corporate
strategy for Nasdaq, which is embroiled, along with bidding partner
IntercontinentalExchange Inc. (ICE), in a takeover battle with
German exchange operator Deutsche Boerse AG (DB1.XE) for control of
NYSE Euronext (NYX).
Nasdaq noted that Shavel had advised on "many notable securities
transactions," including the sale of International Securities
Exchange to Deutsche Boerse and the sale of the New York Mercantile
Exchange to CME Group Inc. (CME).
CEO Bob Greifeld said Shavel "brings both broad financial
expertise and strategic perspective across key asset classes such
as cash equities, commodities, derivatives and fixed income."
Ronald Hassen--the company's controller and principal accounting
officer--had been working as the interim CFO since Friedman's
departure.
Shares of Nasdaq were recently up 0.4% at $27.86.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855;
nathan.becker@dowjones.com