William B. Summers, Jr., Vice Chairman of McDonald Investments, chaired the DCRC, which identified, discussed and selected the candidates for the NYSE LLC Board, NYSE Regulation Board, and NYSE Market Board. After screening candidates for conflicts and qualifications, two candidates for each of the NYSE LLC and NYSE Market Board were submitted to the NYSE Group Nominating & Governance Committee, and two candidates for the NYSE Regulation Board were submitted to the NYSE Regulation Nominating & Governance Committee. All candidates were found to meet independence standards and other qualifications to serve. One of the two candidates for NYSE Regulation Board is in the process of obtaining authorization from his current employer, and we expect to announce him in the near future. In addition to these candidates, NYSE Member Organizations may propose Fair Representation candidates no later than May 18, 2006 by petition. The DCRC candidates are listed below:
NYSE LLC Board
- Myra R. Drucker, former Chief Investment Officer, GM Trust Bank
- James K. Rutledge, Managing Partner, Rutledge Securities Group
NYSE Regulation Board
- Richard S. Pechter, Former Chairman of Donaldson, Lufkin & Jenrette’s financial services group.
NYSE Market Board
- Bruce Lisman, Senior Managing Director, Bear Stearns
- Robert H. McCooey, Jr., President and CEO, The Griswold Company.
Biographies of the DCRC-nominated candidates are found in the accompanying file.
In addition to Mr. Summers, members of the Director Candidate Recommendation Committee were: Ms. Drucker; John Lauto, CEO, Speer Leeds & Kellogg; Robert J. McCann, Vice Chairman, Wealth Management Group, Merrill Lynch; Bart McDade, Managing Director, Global Head of Equities, Lehman Brothers; Doreen Mogavero, Mogavero Lee & Co.; Peter Murphy, Chief Executive Officer, Bear Wagner Specialists LLC; Kenneth Polcari, Managing Director, Polcari/Weicker; and Richard H. Walker, General Counsel, Deutsche Bank.
BIOGRAPHICAL PROFILES - DCRC CANDIDATES
NYSE LLC Board
- Myra R. Drucker is vice chair of the board of Sarah Lawrence College, vice chair of the board of Commonfund, and a member of the investment committee of the Kresge Foundation. She is an independent trustee of the Putnam Mutual Funds and serves as an advisor to Hamilton Lane LLC and RCM Capital Management. Ms. Drucker was formerly managing director of General Motors Asset Management (GMAM) and chief investment officer of General Motors Trust Bank. Prior to joining GMAM, Ms. Drucker was chief investment officer at Xerox Corporation, where she oversaw the investment of the company’s worldwide pension and savings plan assets.
Ms. Drucker is past chair and current ex-officio member of the New York Stock Exchange Pension Managers Advisory Committee. She is past chair and current executive committee member of the Committee on Investment of Employee Benefit Assets. Ms. Drucker served on the NYSE Corporate Accountability and Listing Standards Committee, and as a member of the joint NYSE/NASD IPO Advisory Committee. Ms. Drucker has a BA in literature and psychology from Sarah Lawrence College.
- James K. Rutledge, Managing Partner, Rutledge Securities Group. Mr. Rutledge began his career as a NYSE employee in 1968 and became a member in 1973. He held a number of executive positions in member organizations, among them, Rowland & Co., Spear, Leeds & Kellogg and the British Investment bank S.G. Warburg. He founded his own firm, Rutledge Securities, in 1995. He has held the position of Floor Official on the NYSE Trading Floor, and has served on numerous Exchange committees. He is a member of the National Organization of Investment Professionals, Securities Traders Association, Boston Stock Exchange, and NY Board of Trade (Europe).
- Richard S. Pechterhas been a public high school and community college teacher in Jersey City, New Jersey, for the past 6 years. Prior to becoming an educator, Mr. Pechter spent 30 years with Donaldson, Lufkin & Jenrette (DLJ). During his career at DLJ, he held the positions of treasurer, chief financial officer, chief administrative office and chief executive of Pershing. At his retirement, Mr. Pechter was chairman of DLJ's financial services group, chairman of DLJ Direct, the online brokerage firm and a member of the board of Donaldson, Lufkin & Jenrette.
- Bruce Lisman is a Senior Managing Director, Bear Stearns. Mr. Lisman is head of the Institutional Equity Division and a member of the Management and Compensation Committee. Prior to joining Bear Stearns in 1984, he held positions at Lehman Brothers, Drexel Burnham, and Loeb Rhoades.
- Robert H. McCooey, Jr. is the president and CEO of The Griswold Company, a brokerage firm which he co-founded, that has become one of the largest independent firms on the New York Stock Exchange.
NYSE Regulation Board
Mr. Pechter is a director of Teach For America, Recruiting New Teachers, Kids Corporation, The Foundation for Investor Education, The JED Foundation, The Pechter Foundation and JDS Pharmaceuticals. While at DLJ, Mr. Pechter was a director of DTC, NSCC and the SIA where he was vice chairman. He was also the 1997 Tony Award winner for producing the Broadway musical "Titanic".
Mr. Pechter holds an MBA from Harvard Business School and a BS in Math from Yale University.
NYSE Market Board
Mr. Lisman currently serves on the boards of Central Vermont Public Service (CV-NYSE); Merchants Bankshares (MBVT-NSDQ); National Life of Vermont (A Mutual); VELCO; The Shelburne Museum; American Forests; Pace University. He previously served on the board of The Hewitt School and was Chairman of the Board of The University of Vermont. Mr. Lisman attended the University of Vermont.
Mr. McCooey served on the Board of Executives of the New York Stock Exchange, in addition to 8 terms as a New York Stock Exchange Floor Official. He also served as president of the Alliance of Floor Brokers and a number of other committees. He is a member of the National Organization of Investment Professionals and he is a former member of the Trading Issues Committee of the Securities Traders Association. Mr. McCooey is a director of Iona Preparatory School, as well as St. Vincent’s Hospital, Westchester. Mr. McCooey attended the College of Holy Cross.
About NYSE Group, Inc.
NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The NYSE is the world’s largest and most liquid cash equities exchange. The NYSE provides a reliable, orderly, liquid and efficient marketplace where investors buy and sell listed companies’ common stock and other securities. Our listed operating companies represent a total global market capitalization of over $22.9 trillion. In the first quarter 2006, on an average trading day, over 1.7 billion shares, valued at over $65 billion, were traded on the NYSE.
NYSE Arca operates the first open, all-electronic stock exchange in the United States and has a leading position in trading exchange-traded funds and exchange-listed securities. NYSE Arca is also an exchange for trading equity options. NYSE Arca’s trading platform links traders to multiple U.S. market centers and provide customers with fast electronic execution and open, direct and anonymous market access.
NYSE Regulation, an independent not-for-profit subsidiary, regulates member organizations through the enforcement of marketplace rules and federal securities laws. NYSE Regulation also ensures that companies listed on the NYSE and NYSE Arca meet their financial and corporate governance listing standards.
For more information on NYSE Group, go to: http://www.nyse.com. Information contained on our website does not constitute a part of the prospectus relating to the proposed offering.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on NYSE Group’s current expectations and involve risks and uncertainties that could cause NYSE Group’s actual results to differ materially from those set forth in the statements. There can be no assurance that such expectations will prove to be correct. Actual results may differ materially from those expressed or implied in the forward-looking statements. Factors that could cause NYSE Group’s results to differ materially from current expectations include, but are not limited to: NYSE Group’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Group’s Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Group that the projections will prove to be correct. We undertake no obligation to release any revisions to any forward-looking statements.
