Commenting on the announcement, Zarb said, "This will be the second time Wick and I have worked together. He is a great choice to lead Nasdaq as it transitions to an independent investor-owned company. Today’s appointments complete the executive management team to implement the restructuring of the NASD and The Nasdaq Stock Market. With Hardwick Simmons and Rick Ketchum at Nasdaq and Bob Glauber at NASD, both organizations have strong leadership going forward."
Arvind Sodhani, NASD Board member and vice president and treasurer of Intel Corporation, who headed the search committee for the Nasdaq chief executive officer explained, "Simmons will bring outstanding leadership to The Nasdaq Stock Market. He has the right background and track record of achievement to head a growing organization. Simmons will have the benefit of working side-by-side with Zarb for a period to insure a smooth transition."
Biography
Hardwick Simmons, 60, recently retired from Prudential Securities where he had served since 1991 as president and chief executive officer. In this role, he led Prudential Securities’ return to health after its debilitating experience with limited partnerships in the 1980’s. Prior to joining Prudential, Simmons was president of the Private Client Group at Shearson Lehman Brothers, Inc., where he oversaw the firm’s Private Client, Marketing and Sales, and Financial Services divisions.
Simmons began his career in securities industry in 1966 as a financial advisor at Hayden Stone, a predecessor firm of Shearson Lehman Brothers, Inc. In 1969, he was named vice president in charge of Hayden Stone’s Data Processing and Communications Division and, in 1970, he became manager of the firm’s Boston office. In 1973, he was appointed executive vice president responsible for Shearson Hayden Stone’s Retail Sales and Administration. In 1977, he was named senior executive vice president overseeing Marketing and Sales for Shearson/American Express.
Simmons holds an A.B.(1963) and M.B.A.(1966) from Harvard University. He served in the U.S. Marine Corps Reserve from 1960 until 1966 and as chairman of the Securities Industry Association from 1988-1989.
The National Association of Securities Dealers, Inc., is the largest securities-industry, self-regulatory organization in the United States. It is the parent organization of The Nasdaq Stock Market, Inc.; the American Stock Exchange, LLC; NASD Regulation, Inc.; and NASD Dispute Resolution, Inc. For more information about the NASD® and its subsidiaries, please visit the following Web sites: www.nasd.com; www.nasdaq.com; the Nasdaq NewsroomSM at www.nasdaqnews.com; www.amex.com; www.nasdr.com; or www.nasdadr.com.
