Fortunately, the Nasdaq board remains a female-driven exchange. This is also shown by the latest job appointments at the world’s most important technology exchange. Sarah Youngwood (LinkedIn), who previously found herself sidelined on Sergio Ermotti‘s UBS board, has been appointed as the CFO for Nasdaq. This transition will take effect from December 1, as she fills the shoes of outgoing CFO Ann Dennison.
Background
Sarah Youngwood‘s swift move to Nasdaq comes after a brief tenure at UBS. Originally introduced to UBS by then-CEO Ralph Hamers, Youngwood stepped into the role of CFO, succeeding the long-serving Kirt Gardner. Following the acquisition of Credit Suisse, Youngwood did not find a position in the restructured UBS management under CEO Sergio Ermotti‘s reign. Subsequently, Todd Tucker, an old hand from UBS, took over her role.
Sarah Youngwood’s Wall Street Credibility
Despite the changes at UBS, Youngwood’s prowess in the financial realm is undeniable. Prior to her stint at UBS, she dedicated nearly a quarter-century to J.P. Morgan, America’s banking giant. Her roles there were pivotal, encompassing CFO responsibilities and leading investor relations, underscoring her deep-rooted connections in Wall Street.
Nasdaq’s Strategy And Vision
Nasdaq‘s CEO, Adena Friedman, is poised to harness Youngwood’s extensive expertise. Sarah Youngwood‘s appointment is strategic as Nasdaq steers its direction towards a dominant stance in the fintech landscape. Recent top-tier placements include Tal Cohen overseeing market platforms, Nelson Griggs helming capital markets access, and Jamie King leading the financial crime unit. In line with its fintech ambitions, Nasdaq has broadened its horizon with the acquisition of fraud detection expert Verafin for a whopping $2.75 billion.
Conclusion
Sarah Youngwood‘s transition to Nasdaq signifies a crucial juncture in her illustrious career. Given her extensive experience and Wall Street affiliations, her impact on Nasdaq‘s fintech aspirations will be keenly watched by analysts and stakeholders alike.
