Combines the legal and regulatory functions and responsibilities of the group’s risk management
Nasdaq announces the update of technology market leaders
NEW YORK, February 14, 2022 (GLOBE NEWSWIRE) – Nasdaq, Inc. (Nasdaq: NDAQ), today announced the resignation of Lars Ottersgard, executive vice president of market technology, after 16 years of running the organization. On April 30, 2022, Ottersgård will take on an advisory role until his official retirement on August 31. As a result, the company appoints two senior executives – Jamie King and Roland Tea – to develop its infrastructure to combat financial crime and the Technology Business market, respectively, and both will report directly to Nasdaq President and CEO Aden Friedman.
It is expected that the announced changes will not affect the structure of the company’s financial statements for the market technology segment, which consists of enterprises to combat financial crime and market infrastructure technologies. In addition, Nasdaq continues to maintain its financial and operational performance for the market technology segment.
During his 16-year career at Nasdaq, Ottersgård has led the company’s market technology franchise almost threefold and has played an important role in transforming the business into one of the world’s largest providers of solutions for exchanges, clearing houses, central securities depositories, brokers. After a 20-year career at IBM, Ottersgard joined OMX AB in 2006 to lead global sales of the Northern Exchange’s commercial technology business, and was appointed to lead the combined market technology following Nasdaq’s iconic merger with OMX in 2008. His vision and leadership has led Nasdaq to provide technology capabilities to more than 130 market infrastructure operators in 50 countries, including one of the largest market infrastructure agreements in the industry’s history. After launching the Nasdaq financial structure, Ottersgård has taken business to new areas beyond traditional capital markets, including the creation and expansion of financial crime solutions for banks and brokers around the world, and has played a key role in promoting the Nasdaq cloud path.
“Lars has been an outstanding leader and colleague, guiding our market technology segment through some of the biggest milestones in the history of the industry,” he said. Adena Friedman, President and CEO of Nasdaq. “After OMX’s integration into Nasdaq in 2008, its sharp focus on new technologies led to Nasdaq acquiring SMARTS Surveillance and Cinnober, which strengthened our leadership position in providing critical technology to more than one hundred exchanges and market infrastructure operators worldwide. His recent efforts to expand our cloud solutions and markets, as well as service new markets, including cryptocurrencies, leaves us in a great position to partner with customers across the ecosystem of markets as we build to an interconnected future. ”
From April 4, 2022 the following changes in the management will come into force:
Jamie King will be promoted to executive vice president of Nasdaq and will take over the leadership of Nasdaq Anti-financial crime (AFC) business. AFC’s business includes solutions used by thousands of banks, exchange operators and other financial institutions to detect and combat financial crime through trade and market surveillance, and Verafin’s solutions to detect fraud and combat money laundering. King is currently the President and CEO of Verafin, which he co-founded in 2003.
Roland Tea, Currently, Nasdaq’s Chief Global Risk Officer will be promoted to Executive Vice President and head Nasdaq’s Market Infrastructure Technology a business that includes tailor-made products to meet the technological needs of customers market infrastructure. Prior to joining Nasdaq in 2020, Chai held the position of Head of Post-Trading and Group Risk on the Hong Kong Stock Exchange. He previously worked as a stock manager at LCH Ltd after beginning his career in software development.
As a result of these changes, John ZackChief Legal and Regulatory Director of Nasdaq, will take over the management of the Nasdaq Risk Management Group from Roland Tea and will Chief Executive Officer for Legal Affairs, Risks and Regulation.
“The organizational and managerial changes announced today will accelerate Nasdaq’s ability to realize its potential as a world leader in anti-financial solutions and as a leading innovative technology partner for exchanges and markets around the world,” they said. Friedman. “Both Jamie and Roland are respected leaders in their field with in-depth industry experience, proven success and a shared focus on deepening customer relationships. I look forward to further success as we move the next phase of growth in our decisions to combat financial crime and the market. ”
CAUTION STATEMENT FOR PROSPECTIVE STATEMENTS
The information contained in this report contains forward-looking statements that include a number of risks and uncertainties. Nasdaq warns readers that any forward-looking information is not a guarantee of future performance and that actual results may differ materially from those contained in forward-looking information. Such forward-looking statements include, but are not limited to, projections concerning our future financial results, products and services and achievement of goals, as well as other statements that are not historical facts. Promising statements include a number of risks, uncertainties or other factors that are independent of the Nasdaq. These factors include, but are not limited to, Nasdaq’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, competition in the US and the world, the impact of the COVID-19 pandemic on our business operations. , the results of transactions, financial condition, workforce or operations or decisions of our customers, suppliers or business partners, and other factors detailed in Nasdaq documents to the U.S. Securities and Exchange Commission, including its annual reports in Form 10-K and quarterly 10-Q reports are available on the Nasdaq Investor Relations website at http://ir.nasdaq.com and on the SEC website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statements, as a result of new information, future events or otherwise.
Nasdaq (Nasdaq: NDAQ) is a global technology company serving capital markets and other industries. Our diverse offering of data, analytics, software and services allows customers to optimize and confidently implement their business vision. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq or at www.nasdaq.com.
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