The business on...Bob Greifeld, Chief executive, Nasdaq
Saturday 23 April 2011
The man who wanted to buy the London Stock Exchange?
The very same. He got rebuffed good and proper when he came calling over here in 2006, but he is no less hungry for Nasdaq to do deals. Perhaps more so.
These days he is after a rather different icon of capitalism, but this time it is a little closer to home: the New York Stock Exchange.
Can't a man just be happy with what he has?
Not likely. When it comes to running a big exchange, bigger is better business. There are savings to be had from combining all the computers and cutting staff, and traders appreciate the greater liquidity of larger exchanges.
And conquering an old rival can't feel too bad either, eh?
So far Mr Greifeld looks less like a conquering hero than a pesky irritant. NYSE Euronext has told him to take his $11.2bn bid and shove it. It has already vowed to merge with Europe's Deutsche Börse.
How's he taking it?
Well, Mr Greifeld's motto is: "You never get what you want the first time you try." And he is a man with stamina, having completed marathons all over the world and gone running every morning for years.
He has shown determination all his life. He grew up in Queens, New York, the son of a postman, and got a scholarship to college. He got the top job at Nasdaq in 2003 after a career at technology companies, but if he doesn't consummate this deal, it could be curtains.
The fact that Nasdaq is really stretching itself to make its bid – even teaming up with the ICE commodities exchange – shows how desperate the situation is. As consolidation speeds up in this industry, it is a case of eat or be eaten. If Deutsche Börse walks off with NYSE, it could be the end of Mr Greifeld's acquisition attempts – for good.
- 1 Stephen Fry explains what he would say if he was 'confronted by God'
- 2 Venezuela Expo Tattoo 2015: Extreme body art from 'Vampire Woman' to 109mm earlobes
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Ball pool for adults opens in London
- 5 Rashida Jones speaks out against male-centric porn saying 'women should have sex and feel good about it'
Stephen Fry explains what he would say if he was 'confronted by God'
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
Hard line on immigration could cost Tories the election
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...