Nasdaq Names a New Chief Executive: Adena Friedman

Nasdaq on Monday named Adena T. Friedman its new chief executive, in the first changeover at the stock market operator in nearly 14 years.

Ms. Friedman, whose accession was widely anticipated, is expected to assume the role on Jan. 1. Her predecessor, Robert Greifeld, will become chairman of the company’s board, replacing Borje Ekholm.

For Ms. Friedman, 47, the promotion comes at a time of consolidation within the world of market operators and of rapid changeover in technology. Under Mr. Greifeld, Nasdaq expanded from a single stock exchange to a global markets operator that now trades stocks and options, including through acquisitions of counterparts, like OMX of Sweden, in the United States and abroad.

Other market operators have not stood still: The New York Stock Exchange, Nasdaq’s longtime rival, sold itself to the Intercontinental Exchange four years ago, and the London Stock Exchange and Deutsche Börse of Germany are trying to forge their own merger.

In an interview, Ms. Friedman said that her job as chief executive would be to keep Nasdaq on top of the shifting landscape.

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