ISE Announces Changes to Board Leadership
May 11 2006 - 2:18PM
Business Wire
The International Securities Exchange (NYSE: ISE) announced today
the following changes to its Board leadership. After four
distinguished years of service, Ivers W. Riley will be stepping
down as Chairman of the ISE, but will remain on the Board of
Directors. Dr. Frank J. Jones, Ph.D., who has been a director of
the ISE since 2000 and is currently Vice Chairman of the Board,
will become Chairman. Dr. John F. Marshall, Ph.D., who has been a
director of the ISE since 2000 and is currently Chairman of the
Finance and Audit Committee, will now become Vice Chairman. The ISE
Board consists of 15 members, which includes seven industry
directors and eight non-industry directors. Dr. Frank Jones has
been a Professor in the accounting and business department at San
Jose State University since 2003. Additionally, Dr. Jones was
Executive Vice President and Chief Investment Officer of Guardian
Life Insurance Company of America from 1991 to 2002. Previously,
Dr. Jones was Managing Director at Merrill Lynch & Co., Global
Fixed Income Research and Economics. He has served on several
boards, including The Intermarket Clearing Corporation (a
subsidiary of OCC), OCC and New York Futures Clearing Corporation.
Dr. Jones holds a Ph.D. in Economics from Stanford University, a
M.B.A. from the University of Pittsburgh, a M.S. in Nuclear
Engineering from Cornell University and a B.A. and B.S. from
University of Notre Dame. Dr. John Marshall has been a Senior
Member of Marshall, Tucker & Associates, LLC since 1991. He is
also the Chief Executive Officer of Port Jefferson Capital I, LLC,
a venture capital fund. Dr. Marshall served on the faculty of the
Tobin Graduate School of Business at St. John's University from
1981 to 2000. Dr. Marshall also served as the Executive Director of
the International Association of Financial Engineers. Dr. Marshall
earned a Ph.D. in Financial Economics from the State University of
New York at Stony Brook, a M.B.A. in Finance from St. John's
University in 1977, a M.A. in Quantitative Economics from the State
University of New York at Stony Brook and a B.S. in
biology/chemistry from Fordham University in 1973. "We wish to
thank Ivers for the significant contributions that he has made over
the past four years as our Chairman. He can be proud of the
organization's accomplishments during this period which have
established ISE as a leader in corporate governance and positioned
us for growth within the industry. His ongoing role as a board
member is appreciated," said David Krell, President and Chief
Executive Officer of ISE. "We are also delighted to have Frank
assume the Chairmanship and to have John become the Vice Chairman
of the Board. As established industry experts, both are
well-positioned to build on our organization's success and to lead
ISE's future development." Mr. Riley became Chairman of ISE on May
26, 2002. Prior to serving as ISE's first Vice Chairman, Mr. Riley
held several senior level positions in the financial services
industry and is regarded as a worldwide leader in the derivatives
sector. Until the end of 2001, he served as a member of the
executive committee of the International Options Market Association
(IOMA), where he was formerly President, from 1997 through 1998.
From 1994 to 1997, and from 1999 to 2000, Mr. Riley was Chief
Executive of the Hong Kong Futures Exchange and Chairman of the
HKFE Clearing Corporation. From 1986 to 1993, he was Senior
Executive Vice President of the American Stock Exchange (AMEX) in
charge of all derivatives activity. While at AMEX, Mr. Riley was
the driving force in the development and introduction of SPDRs(R),
one of the most successful derivative products traded on any
exchange. From 1983 to 1986 he was Executive Vice President of the
New York Stock Exchange, in charge of the options division.
Previously, Mr. Riley was a founding partner of The Options Group,
an investment advisory and consulting firm providing computerized
support for derivatives dealers and traders. In addition, he was a
Senior Vice President of both PaineWebber and the Chicago Board
Options Exchange. ISE Background The International Securities
Exchange (ISE) is an innovative securities market, founded on the
principle that technology and competition create better, more
efficient markets for investors. ISE is the largest equity options
exchange and is among the leading options exchanges in the world.
ISE developed a unique market structure for advanced screen-based
trading systems and in May 2000 launched the first fully electronic
US options exchange. The ISE Stock Exchange LLC will launch in the
third quarter of 2006 with strategic partners, offering an
innovative MidPoint Match platform, followed by a fully integrated
displayed Best Bid Offer (BBO) market in the fourth quarter. ISE is
also a majority owner of Longitude LLC, an innovative platform for
events markets trading, and offers enhanced market data products
for sophisticated investors. ISE continually enhances its trading
systems and develops new products, including index options and
market data, to provide investors with the best marketplace and
investment tools to trade smarter. For more information about ISE,
its options products and its technology, visit www.iseoptions.com
and for more information about the ISE Stock Exchange LLC, visit
www.isestock.com.
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