News Release

NASD Names Sal Sodano Vice Chairman

Washington, D.C.—The National Association of Securities Dealers, Inc. (NASD®), announced today that Salvatore F. Sodano has been appointed Vice Chairman of the association, effective November 1, 2000. Sodano will also continue in his role as chairman and CEO of The American Stock Exchange LLC (Amex®).

Commenting on the appointment, NASD Chairman Frank Zarb said, "Sal Sodano has made a significant contribution to the overall success of the NASD. His leadership role in the merger and eventual integration of the The American Stock Exchange® into the NASD has ensured a smooth transition period and laid the foundation for the continued revitalization of the new Amex."

Accepting his new role, Sodano remarked, "The NASD will continue to play a critical role in both the regulation and evolution of the U.S. markets. I look forward to continuing to work with the NASD team as we position the NASD and Amex to continue its important role during this exciting period."

Sodano joined the NASD in 1997 and served in a variety of capacities, including Executive Vice President and Chief Financial Officer, Deputy Chief Operating Officer Chief Financial Officer, and most recently Chief Operating Officer, a post to which he was appointed in 1998. Sodano was an integral part of the team that negotiated the acquisition of the Amex in 1998 and was named chairman and CEO of the Amex in September 1999. He had previously served as acting President of the Amex since March 1999.

Prior to the NASD, Sodano was at Westpac Banking Corporation where he served as Senior Vice President, Chief Manager and Principal Operating Officer of Westpac’s Americas Division in New York.

Sodano received a bachelor’s degree in accounting and economics from Hofstra University in 1977 and a master’s degree in finance and investments from Hofstra, in 1983.  At the School of Business at Hofstra, Sodano is a member of the Dean’s Executive Council. He is also a member of the Business Advisory Board of The Merrill Lynch Center for the Study of International Financial Services and Markets.

The National Association of Securities Dealers, Inc., is the largest securities-industry, self-regulatory organization in the United States. It is the parent organization of The Nasdaq Stock Market®, The American Stock Exchange®, NASD Regulation, Inc., and NASD Dispute Resolution. For more information about the NASD and its subsidiaries, please visit the following Web sites:,, or the Nasdaq NewsroomSM at