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The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Bloomberg Coup as it Hires NYSE Technologies’ CEO to Spearhead Enterprise

In a coup for Bloomberg, the vendor has appointed Stanley Young, who was until very recently the CEO of NYSE Technologies, as head of the Bloomberg Enterprise Products and Solutions Division. Young’s jumping ship to Bloomberg is a blow to NYSE Euronext but another sign of Bloomberg’s serious intent to develop the enterprise area, coming hot on the heels of its agreement to buy PolarLake.

The Bloomberg division had been run by Mark Pesonen, who now becomes chairman of the division, with Young reporting to him. Pesonen will continue to lead strategy, while Young will run the day-to-day aspects of the business. People reporting to him will include Roseann Palmieri, global head of the Enterprise Data Management group, which now includes its recently acquired PolarLake business.

Young joined NYSE Euronext in 2008 and had led NYSE Technologies – the commercial technology arm of exchange operator NYSE Euronext – since its formation at the beginning of 2009. During his tenure he delivered new data centres for the exchange in Mahwah, New Jersey and Basildon, on the outskirts of London. He also led development of a number of products many of which are geared to low-latency trading.

But could there be further activity afoot? Certainly with changing priorities at NYSE Euronext following the aborted merger with Deutsche Borse, we wouldn’t be surprised to see a wholesale disposal of NYSE Technologies to a party such as Bloomberg. For Bloomberg, the acquisition of such a business could be a dream come true.

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