News Release

NASD Names Douglas Shulman Executive Vice President, Corporate Development, Strategy and Technology

Washington, D.C.—The Board of Governors of the National Association of Securities Dealers, Inc. (NASD®), appointed Douglas Shulman Executive Vice President, Corporate Development, Strategy and Technology for the NASD and its subsidiaries, which include NASD Regulation, Inc., NASD Dispute Resolution, Inc. and the American Stock Exchange®. He will report to Robert R. Glauber, NASD Chief Executive Officer and President.

Shulman has been tapped to lead the NASD’s efforts to transform its regulatory and technology products and services into profitable ventures. As part of this effort, he will direct the development of new business ventures that will provide the NASD’s regulatory services to new areas, including other exchanges and regulators in the United States and abroad. Shulman will also play the lead role in key strategic transactions, such as joint ventures and spin-offs, and will ensure that the NASD develops the appropriate technology to implement its strategic vision.

"Doug is an excellent addition to the NASD management team, and this organization will benefit from the diversity of his experience in both the private and public sectors," said NASD CEO Robert R. Glauber. "Doug possesses the ability to identify the business potential in fledgling enterprises and grow them into successful businesses. His expertise, coupled with strong negotiating skills, will make Doug a critical part of new NASD business ventures around the globe."

Before joining the NASD, Shulman co-founded and served as Executive Vice President of FoundryOne, Inc. in January 2000, a company focused on incubating and spinning off technology-focused new business ventures. At FoundryOne, Shulman supervised the company’s corporate development activities, investments, and advisory services; and served as the lead negotiator for all corporate transactions, license agreements, investments, and contracts.

From 1998 to 2000, Shulman was Vice President of Darby Oversees Investments, Ltd., the holding company and general partner of several private investment funds. In this capacity he played a lead role in structuring a major regional Internet initiative, and managed both financial and legal aspects of the company’s transactions.

Shulman has also worked in government, first as Senior Policy Advisor and later as Chief of Staff for the National Commission on Restructuring the Internal Revenue Service (IRS) from 1996 to 1997. Co-chaired by Congressman Rob Portman (R-Oh.) and Senator Bob Kerrey (D-Ne.), the bi-partisan commission was instituted to conduct a major restructuring of the IRS, and Shulman led the analysis of all the major components of the restructuring effort. He also directed the House and Senate legislative strategy, which culminated in the passage of the IRS Restructuring and Reform Act in July 1998.

Shulman began his career as a consultant at A.T. Kearney in New York City.

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 NASD Regulation, The American Stock Exchange, NASD Dispute Resolution and The Nasdaq Stock Market, Inc. For more information about the NASD and its subsidiaries, please visit the following Web sites:,,, or the Nasdaq NewsroomSM at