ISE Announces Changes to Board Leadership
March 19 2008 - 10:30AM
Business Wire
The International Securities Exchange announced that its Board of
Directors unanimously elected Frank J. Jones, PhD as its Vice
Chairman. Dr. Jones has been a director of ISE since 2000 and
previously served as Vice Chairman from June 2002 to May 2006 and
Chairman from May 2006 until January 2008. ISE�s Board of Directors
also unanimously elected director Kenneth Vecchione to serve as the
Chairman of its Finance and Audit Committee. David Krell, Chairman
of ISE, said, �On behalf of the ISE Board of Directors, I would
like to express my appreciation to Frank Jones for his willingness
to provide continuity by reassuming the role of Vice Chairman. I
also am grateful that Ken Vecchione has agreed to Chair the Finance
and Audit Committee. Our Board of Directors will benefit from the
significant expertise that both Frank and Ken will bring to these
important leadership roles.� Dr. 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. Mr. Vecchione
currently serves as Chief Financial Officer of Apollo Global
Management, L.P. Previously, he was the Vice-Chairman and Chief
Financial Officer of MBNA Corporation from 2004 to 2006. Mr.
Vecchione�s prior experience includes serving as Chief Financial
Officer of AT&T Universal Card Services from 1997 to 1998 and
Chief Financial Officer and Group President of First Data
Corporation�s Electronic Funds Management business from 1994 to
1997. He also worked at Citigroup for 17 years, where he was Chief
Financial Officer of their credit card business. Mr. Vecchione is a
board member and Chairman of the Audit Committee for Affinion
Group. Mr. Vecchione is also a board member and Chairman of the
Finance and Loan Committee for Western Alliance Bancorp (NYSE:
WAL). He holds a B.S. in Accounting from the University of New York
at Albany. ISE Background The International Securities Exchange
operates a family of fully electronic trading platforms, creating
efficient markets through innovative technology and market
structure. ISE�s markets portfolio consists of an options exchange
and a stock exchange. As the world�s largest equity options trading
venue, ISE offers options on equities, ETFs, indexes, and FX. The
ISE Stock Exchange trades approximately 6,000 products, and is the
only fully electronic equities platform that provides the
opportunity for continuous price improvement through the
interaction of its non-displayed liquidity pool, MidPoint Match,
and its displayed stock market. ISE Alternative Markets is
scheduled to launch in 2008 and will offer an events market trading
platform for derivatives auctions. To complement its markets and
enable investors to trade smarter, ISE creates innovative new
products including a portfolio of proprietary indexes and enhanced
market data products for sophisticated investors. ISE is a wholly
owned subsidiary of Eurex, a leading global derivatives exchange.
Eurex itself is jointly owned by Deutsche B�rse AG (Ticker: DB1)
and SWX Swiss Exchange. Together, Eurex and ISE are the global
market leader in individual equity and equity index derivatives.
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