Wick Simmons Assumes Chairmanship Of Nasdaq

The Nasdaq Stock Market, Inc., today announced that its Board of Directors officially named Chief Executive Officer Hardwick "Wick" Simmons Nasdaq's new Chairman. He succeeds Frank G. Zarb in that role. Simmons will also retain his position as Chief Executive Officer. Zarb will remain as a Senior Advisor. Zarb continues as chairman of Nasdaq Europe. This completes a management transition plan that had been announced in July.

Simmons appointment as CEO was announced on December 20, 2000. He officially joined the company on February 1, 2001. From 1991 - 2000, he was President and Chief Executive Officer of Prudential Securities, Inc., the investment and brokerage firm; and Prudential Securities Group Inc., the firm's holding company.

Prior to joining Prudential, Simmons was President of the Private Client Group at Shearson Lehman Brothers, Inc., overseeing the firm's Retail organization, which consisted of 10,500 financial consultants in 475 branches, as well as the Marketing and Sales and Financial Services divisions. Simmons began his career in the securities industry in 1966 when he became as a financial advisor at Hayden Stone, a predecessor to Shearson Lehman Brothers, Inc.

He holds a B.A. (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.

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