Nasdaq names new US markets manager

Nasdaq promotes Tom Wittman to manage US stock market

Associated Press

NEW YORK (AP) -- Nasdaq OMX Group Inc. has promoted Thomas Wittman to oversee its three U.S. stock exchanges, adding to his existing duties running domestic options platforms and a futures exchange.

The company runs its namesake stock market, along with a series of other platforms and clearinghouses in the U.S. and overseas. Wittman was promoted last week and a Nasdaq OMX representative confirmed the move on Wednesday.

Wittman joined Nasdaq OMX in 2008.

"I believe unifying the leadership around our U.S. equity and derivatives offerings at Nasdaq OMX will help sharpen our focus and allow us to better serve our customers," Eric Noll, Nasdaq's head of transaction services in the U.S. and U.K., said in a memo obtained by The Wall Street Journal.

Nasdaq OMX declined to provide a copy of the memo that was sent to the company's clients. Wittman will continue to report to Noll.

Shares of the company fell 2 percent to close at $31.34 Wednesday and shed 1 percent in after-hours trading to $31.

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