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Mr. Pomerance began his storied career as a margin clerk and worked at such firms as Model, Roland and Company; Henry Hentz and Company; and Donaldson, Lufkin & Jenrette, among others. At the time he was named chairman of the CBOE, Mr. Pomerance was widely recognized on the street as "dean of the puts and calls" and one of the foremost figures in over-the-counter options business.
Mr. Pomerance's business acumen was widely acknowledged and exemplified by his thoughts on the launch of the CBOE: "Wall Street was very skeptical. When we [CBOE] opened, even the headline in the Wall Street Journal declared that our concept would never work. But in three months all those brokers who said it wouldn't work came to me looking for a job."
Upon conclusion of his term as Chairman of CBOE, Mr. Pomerance continued at DLJ, serving as a Senior Vice President managing DLJ's entire options program. Mr. Pomerance also worked at Drexell, Burnham, Lambert; Bache & Halsey and was the President of the Association of Member Firms' Options Departments (AMFOD), the foremost industry group of its time. During his career, Mr. Pomerance also taught at the New York Institute of Finance.
Mr. Pomerance had most recently resided in Silver Spring, Maryland to be near his family. He was preceded in death by his wife Hilda (January, 2000). His two children, daughter, Debbie and son, Carl and his brothers, Isidore and Joseph and sister, Rose Oelbaum, survive him. He has three grandchildren, Amy, David and Emily. CBOE, the world's largest options marketplace and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, access the CBOE site on the World Wide Web at http://www.cboe.com.
