The Dubai International Financial Exchange Ltd (DIFX) has announced the composition of its new Board of Directors following the closure of a deal between the DIFX, Borse Dubai Ltd and the Nasdaq Stock Market, Inc., which resulted in the NASDAQ OMX Group, Inc. acquiring a 33.3% stake in the DIFX.
The two new DIFX Board members are Robert Greifeld, Chief Executive Officer of NASDAQ OMX Group and Adena T. Friedman, Executive Vice President, Corporate Strategy of NASDAQ OMX Group.
Mr Greifeld will serve as Vice Chairman of the DIFX and as a member of the DIFX’s Nomination and Remuneration Committee. Ms Friedman will serve as a member of the DIFX’s Market Oversight Committee.
Greifeld has a 20-year history in technology, and as an entrepreneur created one of the first electronic stock order matching systems. He has been a strong advocate of modernizing stock markets to improve trading quality and performance for the benefit of companies and investors.
Friedman joined NASDAQ in 1993 and has served in several roles. However, she was instrumental in directing NASDAQ’s May 2007 offer for Nordic exchange operator and technology provider, OMX Group. In 2006, in addition to NASDAQ’s majority stake building in the London Stock Exchange, she oversaw the arrangement of several working agreements between NASDAQ and other exchanges including JASDAQ (Japan), and the Korea Exchange (KRX).
The rest of the DIFX Board membership remains unchanged and comprises: Soud Ba’alawy (Chairman), Per E. Larsson (Chief Executive Officer), Maha Al-Ghunaim, Bisher Barazi, Mohamed Binbrek, Essa Kazim, Gerald Lawless, George Möller and Shadi Sanbar.
Mr Ba’alawy and Mr. Kazim will serve on the newly formed NASDAQ OMX Group Board.
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