01 Mar 2004
Liquid and EfficientTopics:
In January, John Thain (MBA 79) assumed his new position as CEO of the New York Stock Exchange, a move that prompted interim NYSE head John Reed to declare, We have an exceptional person at a time when, frankly, we require an exceptional person, USA Today (December 18, 2003) reported.
Formerly president and COO of Goldman Sachs, with a background in both trading and investment banking as well as an electrical engineering degree from MIT, Thain is known for his understanding of markets and technology. At a press conference in December, he said, My goal is to ensure that the exchange remains the worlds most liquid and most efficient marketplace. That may involve a greater degree of electronic trading, but that remains to be seen. I have a very open mind about this well see over the next couple of months what is the best structure for the exchange going forward.
Of his overall focus, Thain observed, Its very important that we restore investor confidence, ensure that the reputation of the exchange is built on being a great, liquid, efficient market, and that the marketplace is viewed as having a very high degree of integrity and excellence in its execution capabilities.
Class of MBA 1979, Section G