Nasdaq Announces Retirement of Market Technology EVP Lars Ottersgård; Appoints New Leadership to Anti-Financial Crime and Market Infrastructure Technology Businesses
The announced changes are not expected to impact the company’s public financial reporting structure for the Market Technology segment, comprised of the Anti-Financial Crime and the Market Infrastructure Technology businesses. Additionally, Nasdaq continues to maintain its financial and operational performance targets for the Market Technology segment.
Over a 16-year career at Nasdaq, Ottersgård presided over a near tripling of the company’s market technology franchise and was instrumental in growing the business into one of the world’s largest solutions providers to exchanges, clearing organizations, central securities depositories, regulators, banks, and brokers. Following a 20-year career at IBM, Ottersgård joined
"Lars has been an exceptional leader and colleague, having led our Market Technology segment through some of the largest milestones in industry history," said
The following leadership changes will be effective from
Jamie Kingwill be elevated to Executive Vice President, Nasdaq, and will assume leadership of Nasdaq’s Anti-Financial Crime (AFC) business. The AFC business comprises solutions used by thousands of banks, exchange operators, and other financial institutions for detecting and fighting financial crime through trade and market surveillance, and Verafin’s fraud detection and anti-money laundering solutions. King is currently President & CEO of Verafin, which he co-founded in 2003. Roland Chai, currently Nasdaq’s Global Chief Risk Officer, will be elevated to Executive Vice President and lead Nasdaq’s Market Infrastructure Technology business, which comprises purpose-built products to meet the technology needs of marketplace infrastructure clients. Prior to joining Nasdaq in 2020, Chai served as Head of Post-Trade and Group Risk Officer at the Hong Kong Exchange. He previously served as Head of Equities at LCH Ltdafter beginning his career in software development.
- As a result of these changes,
John Zecca, Nasdaq’s Chief Legal & Regulatory Officer, will assume management of Nasdaq’s Group Risk Management team from Roland Chaiand will become Chief Legal, Risk & Regulatory Officer.
“The organizational and leadership changes announced today will accelerate Nasdaq’s ability to reach its potential as a global leader in anti-financial crime solutions and as the leading, innovative technology partner to exchanges and marketplaces worldwide,” said Friedman. “Both Jamie and Roland are respected leaders in their field with deep industry expertise, proven track records of success, and a shared focus on deepening client relationships. I look forward to continued success as we drive the next phase of growth across our anti-financial crime and marketplace solutions.”
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, projections relating to our future financial results, products and services and achievement of targets, and other statements that are not historical facts. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to, Nasdaq’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk,
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software, and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.
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