News Release

Gregor S. Bailar Named Chief Information Officer of NASD and John M. Hickey Elevated to Chief Technology Officer of NASD

Washington, D.C.—The National Association of Securities Dealers, Inc. (NASD®), today announced the appointment of Gregor S. Bailar as Executive Vice President and Chief Information Officer (CIO) for the NASD and its subsidiaries, NASD Regulation, Inc., and The Nasdaq Stock Market, Inc. The NASD also elevated John M. Hickey to Executive Vice President and Chief Technology Officer (CTO) of NASD.

In the newly created position of CIO, Bailar will report to NASD Chairman, CEO and President, Frank G. Zarb and NASD Chief Operating Officer Richard G. Ketchum. Bailar will join the NASD on January 5, 1998 and will oversee all aspects of information technology at the NASD and will work closely with the NASD leadership.

As CTO for NASD, Hickey will be responsible for technology operations at the NASD. Hickey will continue in his current position as Nasdaq Executive Vice President for Technology Services, responsible for day-to-day operations of the Nasdaq market. He will report to Nasdaq President Alfred Berkeley.

"The management of information technology is critical to all parts of our organization and the importance of information technology will only increase over time," said Zarb. "John Hickey’s commitment and leadership has been instrumental in Nasdaq’s success and we are very pleased that he will become more involved in the overall technology direction of the NASD."

"We are delighted to have someone with Gregor’s broad operational, technological and managerial background join the NASD in this crucial role." said Zarb "The Bailar-Hickey team will be second to none as we move into the 21st century."

Bailar joins the NASD from Citicorp N.A. where he most recently served as Managing Director and Vice President of Advanced Development for Global Corporate Banking. Since May 1994 at Citicorp, Bailar was responsible for oversight and approval of all major Corporate Banking technology expenditures and initiatives, and for the management of the overall technological direction and strategy for Citicorp’s global corporate banking business.

Prior to this, Bailar was an associate with Perot Systems Corporation in Dallas, Texas, from 1993-1994; and President and CEO of Trirex Systems, Inc. of Westport, Connecticut from 1992-1993. From 1988 through 1992, Bailar held several positions with NeXT Computer, Inc., and he was Senior Systems Engineer with Hewlett Packard in Palo Alto, California from 1985-1988. He majored in Electrical Engineering and Computer Science at Dartmouth College.

Hickey joined the NASD in January 1984 as Vice President responsible for systems development. In September 1988, he relocated to Trumbull, Connecticut to assume responsibility for systems engineering and was later appointed Senior Vice President of NASD Production Services. In 1996, Hickey was promoted to his current position as Executive Vice President for Technology Services for The Nasdaq Stock Market, Inc.

Prior to joining the NASD, Hickey was the Vice President in charge of Corporate Systems Development at Chemical Bank from 1974 to 1984. He held the position of Director - SABRE Systems for American Airlines and spent twelve years with General Motors in various systems management functions. His career in data processing dates back to 1962. Hickey Graduated from St. Francis College with a BBA in accounting and received his master's degree from Columbia University Graduate School of Business.

The National Association of Securities Dealers is the largest securities-industry self-regulatory organization in the United States. Through its subsidiaries, NASD Regulation, and The Nasdaq Stock Market, the NASD develops rules and regulations, provides a dispute resolution forum, conducts regulatory reviews of members activities and designs, operates and regulates securities markets all for the benefit and protection of the investor. For more information about the NASD and its subsidiaries, please visit the following Web sites:; or the Nasdaq Newsroom at