William N. Briggs was promoted from senior vice presidents of operations to executive vice president of administration, finance and business development, which includes the implementation of certain strategic initiatives. Mr. Briggs has been with the PHLX since 1983. He holds a bachelor's degree from Franklin and Marshall College located in Pennsylvania.
William H. Morgan was promoted from senior vice president and chief information officer to executive vice president and chief information services officer. In addition to directing the management of development, technical services, operations, production support and quality assurance departments for all of the divisions of the Exchange, Mr. Morgan will now assume additional responsibilities for new strategic business ventures involving technology. Mr. Morgan has been a member of the PHLX management team in various capacities since 1982. He holds a degree in computer science from Pierce College in Philadelphia.
Also in the same department, Thomas A. Wittman will take on the position of senior vice president of development. Mr. Wittman, formerly first vice president of trading floor development, will be responsible for the overall architecture, design and leadership of the management teams for trading technology. Currently a resident of Mullica Hills, N.J., Mr. Wittman holds a bachelor's degree in computer science from Slippery Rock University in Pennsylvania. He joined the PHLX technology department in 1987.
Joseph D. Jennings was promoted from vice president and acting chief financial officer to first vice president and chief financial officer. A member of the PHLX since 1987, he will be responsible for all accounting and financial reporting and cash management at the Exchange. He holds a bachelor's degree from Drexel University in Philadelphia. Mr. Jennings is also a Certified Public Accountant.
PHLX Chairman and CEO Meyer "Sandy" Frucher says these promotions reflects the need to expand leadership roles as the organization experiences record growth.
The Philadelphia Stock Exchange, which was founded shortly after America declared its independence from England, is redefining the options market in the 21st century. The Exchange's market share has almost doubled year-over-year in the PHLX's 935 listed equity options and 11 sector indexes, which are supported by advanced trading technology. The PHLX, whose members include the largest, best capitalized specialist firms in the global equity derivatives market, is the fastest growing U.S. options exchange.
