NEW YORK, Sept. 14, 2005 – New York Stock Exchange CEO John A. Thain announced that President and Co-COO Robert G. Britz will retire at year end after more than 33 years of distinguished service to the Exchange.
Mr. Thain, whom Mr. Britz informed several months ago of his intention to retire, said that Mr. Britz deeply deserves the Exchange’s gratitude and appreciation for his contributions to the NYSE’s success.
“Since I arrived here almost two years ago, Bob has been an invaluable colleague and resource to me as well as our entire management team,” said Mr. Thain. “Bob’s depth of experience, insight and judgment have helped position the Exchange to maintain its historical leadership position. His leadership and institutional knowledge will be sorely missed by our board, Bob’s colleagues and staff, and me.”
“It has been a privilege to spend my career with the most important and most successful securities market in the world,” Mr. Britz said. “I am grateful to have had the opportunity to contribute to that success with my NYSE colleagues over the years. It’s been a great 33 ½ years, and that’s enough.”
Mr. Britz is a member of the Office of the Chairman as well as the co-chair of the NYSE’s Management Committee. Prior to his current position, Mr. Britz was group executive vice president since June 1995.
Mr. Britz’s current areas of focus at the NYSE include market operations, technology initiatives, as well as the Exchange’s information business. From 1995 to 2005, average daily trading volume on the NYSE has grown from 291 million to 1.6 billion shares per day.
In addition to his duties at the NYSE, Mr. Britz is chairman of the Securities Industry Automation Corp. (SIAC), a technology company that is two-thirds owned by the NYSE, and of its subsidiary, SECTOR, Inc., a provider of managed data-processing services and telecommunications to the financial-services industry.
He joined the NYSE in 1972, and has held various management positions, including managing director of corporate business development, vice president of new listings and client service, and senior vice president and executive vice president of the same division. During his leadership of the listings business, the number of companies listed on the Exchange grew from 1,565 to 2,675.
Mr. Britz received a Bachelor of Science degree in finance from Manhattan College and completed the Advanced Management Program at the Harvard Business School. He has served on the Board of Directors of The Stanley Works.