The New York Stock Exchange’s glass ceiling has finally broken. For the first time in its 226 years, a woman is now the president of the financial market.
Stacey Cunningham began her career as a floor clerk at the Stock Exchange back in ’96. Now in 2018 she will be the 67th president of the Big Board.
With this new development, the worlds top two well-known financial exchanges will be lead by women. Back in January of 2017, Adena Friedman became the CEO of Nasdaq.
Since June of 2015, Cunningham has been the chief operating officer of the New York Stock Exchange Group. Three years later, she becomes the president.
Thomas Farley, whom she is succeeding, plans to head a special purpose acquisition company upon his leaving of the NYSE.
The fellow alum of Lehigh University, where Cunningham earned her B.S. degree in industrial engineering back in 1996, celebrate her achievements on Twitter.
The New Future of the New York Stock Exchange
The chairman and CEO of Intercontinental Exchange, Jeff Sprecher, said with the title of COO, Cunningham was successful in managing their equities, equities derivatives, and exchange-traded fund business. These achievements have distinguished herself as a leader focused on the customer who is well respected in the industry.
with Muriel Siebert, the first woman to have a seat on the NYSE in 1967, in mind, Sprecher says the new president represents a new generation of leadership for their company.
John Tuttle will be Cuningham’s successor as COO who is moving up as the global head of listings.
Farley says he intends to watch proudly as Cunningham, Tuttle, and the rest of the new team take his old company further than ever.
However, as Cunningham rises to her presidency of the NYSE, there are still issues within the male-dominated industry. Particularly those tied to the Me Too movement.
Last month, the Fearless Girl statue, a global symbol of strong women in business, was announced to be moving from its place staring down the bronze Charging bull on Wall Street, to facing the front of the New York Stock Exchange.
Not to mention, according to the most recent Fortune 500 rankings, there are only 24 female CEOs at these corporations. In 2016 there were 32.