Nasdaq Inc has recently announced the appointment of Tal Cohen and Nelson Griggs as Presidents, formalizing the new corporate structure of the transatlantic exchange operator. This move is aimed at enhancing the company’s efforts in major growth areas, including anti-financial crime software.
Boosting Growth Areas
The new organizational structure will enable Nasdaq to strengthen its focus on key strategic priorities. With the appointments of Cohen and Griggs, the company is looking to unlock the full potential of its business units while working closely with its Chair and CEO, Adena T. Friedman.
Three Divisions
In September of last year, Nasdaq reorganized its business units into three distinct divisions. The market platforms division, which encompasses North American and European exchange services, market technology, digital assets, and carbon markets. The capital access platforms division includes indexes, data, and listings. Lastly, the anti-financial crime unit was added to bolster the company’s efforts in this area.
Acquisition of Verafin
To strengthen its anti-financial crime division further, Nasdaq recently acquired fraud detection firm Verafin for $2.75 billion. This acquisition will help Nasdaq better combat financial crime and enhance its offerings to customers in this area.
Leadership Structure
Tal Cohen, who is 50 years old, will head the market platforms unit. At the same time, 52-year-old Nelson Griggs will lead the capital access platforms division. The anti-financial crime unit is currently being led by interim head Brendan Brothers.
Positive Q1 Earnings
Despite the challenges brought about by the pandemic, Nasdaq recently reported positive Q1 earnings that exceeded Wall Street estimates. The demand for its anti-financial crime software has helped offset a slump in initial public offerings and a hit to its indexing business.
The recent appointments of Tal Cohen and Nelson Griggs as Presidents of Nasdaq Inc. is a significant step towards the company’s growth and expansion in key strategic areas. With a new organizational structure and a focus on anti-financial crime, Nasdaq is poised to unlock the full potential of its business units and continue delivering value to its customers.
