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For Big Board Chief, It's Hero or Goat
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Niederauer brings a straightforward style to his efforts to bring together NYSE Euronext and Deutsche Bourse in a new combination. He joined Goldman in 1985, after studying business at Emory University in Atlanta. In his 22 year career at Goldman he worked his way up as a stock trader. He worked in Tokyo where he supervised efforts for electronic trading. He was brought to NYSE in 2007 by Mr Thain, a former Goldman executive. The NYSE has seen its dominance erode since 2000, as investors shifted to fast trading. In the U.S. the NYSE traded 34% of NYSE listed shares bought or sold in January 2011, a significant drop from the 54% in late 2007, and more than 80% when the NYSE was the dominant exchange. This is reflected in the stock price, which is down 56% for NYSE shares since the end of 2007. With a merger Niederauer will be the leading executive of the merged company.
Duncan Niederauer and the proposed merger of NYSE Euronext with Deutsche Bourse
02/13/2011
Niederauer spent 22 years in trading at Goldman Sachs before joining the NYSE.
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