Who was the chief executive of the New York Stock Exchange during Black Monday, which was when stock markets around the world crashed?
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John J. Phelan Jr. John Joseph Phelan Jr. (May 7, 1931 – August 4, 2012) was an American financier who served as president and later chairman and chief executive of the New York Stock Exchange, where he introduced computerized trading technology. Phelan's leadership tenure at the NYSE included the 1987 stock market crash stock market crash, during which he declined to halt trading. Phelan's calm and confident manner was widely praised. After the crash, Phelan helped to implement trading curbs also known as "circuit breakers" to help prevent rapid stock selloffs in the future.
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Black Monday (1987) In finance, Black Monday refers to Monday, October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time. The crash began in Hong Kong and spread west to Europe, hitting the United States after other markets had already declined by a significant margin. The Dow Jones Industrial Average (DJIA) fell exactly 508 points to 1,738.74 (22.61%). In Australia and New Zealand, the 1987 crash is also referred to as "Black Tuesday" because of the time zone difference.
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Deborah E. Gallegos Deborah Gallegos was the Chief Investment Officer for the Comptroller of the City of New York during 2005.
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2008 Société Générale trading loss In January 2008, the bank Société Générale lost approximately €4.9 billion closing out positions over three days of trading beginning January 21, 2008, a period in which the market was experiencing a large drop in equity indices. The bank states these positions were fraudulent transactions created by Jérôme Kerviel, a trader with the company. The police stated they lacked evidence to charge him with fraud and charged him with breach of trust and illegally accessing computers. Kerviel states his actions were known to his superiors and that the losses were caused by panic selling by the bank.
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Grand supercycle A Grand Supercycle is the longest period, or "wave", in the growth of a financial market as described by the Elliott Wave Principle, originally discovered and formulated by Ralph Nelson Elliott. Elliott speculated that a Grand Supercycle advance had started in the United States stock market in 1857 and ran to the year 1928, but acknowledged another interpretation that it may have been the third or even the fifth Grand Supercycle wave. However, these assignments have been reevaluated and clarified using larger historical financial data sets in the works of A. J. Frost and R.R. Prechter, and the start is now considered to be 1789, at which time the stock market data begin.
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Bill Lupien William A. Lupien (born October 6, 1941) is an American business executive in the financial industry. He traded actively in the financial markets throughout his career. He was a Specialist and later Exchange Governor on the Pacific Stock Exchange (PSE), a Nasdaq market maker, the Chairman and CEO of Instinet, the Chairman and CEO of OptiMark Corporation, and the Managing Director of the General Partner of a hedge fund, Kudu Partners LP. He helped develop the world's first electronic trading system. He also served on the Advisory Committee on the National Market System. In 1999 he was featured in a CNBC television series as one of five people who had changed the course of the securities industry in the 20th century.
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Edward Zander Edward J. Zander (born January 12, 1947 in Brooklyn, New York) is an American business executive. He was CEO and Chairman of the Board of Motorola from January 2004 until January 2008, remaining as chairman until May 2008. His work in the technology sector included management positions at Data General and Apollo Computer before joining Sun Microsystems in 1987, where he was later promoted to Chief Operating Officer and President.
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Dow theory The Dow theory on stock price movement is a form of technical analysis that includes some aspects of sector rotation. The theory was derived from 255 Wall Street Journal editorials written by Charles H. Dow (1851–1902), journalist, founder and first editor of "The Wall Street Journal" and co-founder of Dow Jones and Company. Following Dow's death, William Peter Hamilton, Robert Rhea and E. George Schaefer organized and collectively represented Dow theory, based on Dow's editorials. Dow himself never used the term "Dow theory" nor presented it as a trading system.
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Stephen Siegel Stephen Barry Siegel (born September 13, 1944) is the Chairman of Global Brokerage at CBRE (NYSE: CBG), the world's largest commercial real estate services company.
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Stanley Fischer Stanley Fischer (Hebrew: סטנלי פישר‎ ‎ ; born October 15, 1943) is an Israeli American economist and the current vice chair of the U.S. Federal Reserve System. Born in Northern Rhodesia (now Zambia), he holds dual citizenship in Israel and the United States. He served as governor of the Bank of Israel from 2005 to 2013. He previously served as chief economist at the World Bank. On January 10, 2014, United States President Barack Obama nominated Fischer to be Vice-Chairman of the US Federal Reserve Board of Governors. On September 6, 2017, Stanley Fischer announced that he is resigning as Vice-Chairman for personal reasons effective October 13, 2017.
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Ralph Owen Ralph Owen (1905–1983) was an American businessman. He served as the Chairman of American Express (NYSE: [ AXP] ).
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Meltdown Monday Meltdown Monday is a term used by some financial news outlets to describe Mondays with large losses in financial markets. In the late 1980s and early 1990s, the term was used most often in reference to October 19, 1987, which later became known as Black Monday 1987 (a reference to the older term with a similar meaning, Black Monday). Several events which were initially referred to as "Meltdown Mondays" by the press have since been referred to most often as "Black Mondays".
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James Fisk (financier) James Fisk, Jr. (April 1, 1835 – January 7, 1872) – known variously as "Big Jim", "Diamond Jim", and "Jubilee Jim" – was an American stockbroker and corporate executive who has been referred to as one of the "robber barons" of the Gilded Age. Though Fisk was admired by the working class of New York and the Erie Railroad, he achieved much ill-fame for his role in Black Friday in 1869, where he and his partner Jay Gould befriended the unsuspecting President Ulysses S. Grant in an attempt to use the President's good name in a scheme to corner the gold market in New York City. Several years later Fisk was murdered by a disgruntled business associate.
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Russell H. Nevins Russell Hubbard Nevins (January 10, 1785 – November 23, 1854) was an American banker and the president of the New York Stock Exchange from 1830 to 1831.
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Anthony Stockholm Anthony Stockholm was the first president of the New York Stock Exchange from 1817 to 1818.
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Charles L. Evans Charles L. Evans (born January 15, 1958) is the ninth president and chief executive officer of the Federal Reserve Bank of Chicago. In that capacity, he serves on the Federal Open Market Committee (FOMC), the Federal Reserve System's monetary policy-making body.
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Rick Wagoner George Richard "Rick" Wagoner Jr. (born February 9, 1953) is an American businessman and former Chairman and Chief Executive Officer of General Motors. Wagoner resigned as Chairman and CEO at General Motors on March 29, 2009, at the request of the White House. The latter part of Wagoner's tenure as CEO of General Motors found him under heavy criticism as the market valuation of GM went down by more than 90% and the company lost more than $82 billion USD. This led to his being named one of the worst CEOs of 2008.
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Leo Melamed Leo Melamed (born March 20, 1932) is an American attorney, finance executive, and a pioneer of financial futures. He is the chairman emeritus of CME Group (formerly the Chicago Mercantile Exchange).
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Scott Cutler (business executive) Scott Cutler (born 1969) is an American financial technology executive. Formerly the executive vice president and head of global listings at the New York Stock Exchange, he has led eBay subsidiary StubHub since May 2015.
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Peter Plumb Peter James Plumb (born 26 November 1963) was chief executive officer from 2009-16 of Moneysupermarket.com Group plc, a company quoted on the London Stock Exchange.
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Ron Brown (U.S. politician) Ronald Harmon Brown (August 1, 1941 – April 3, 1996) was the United States Secretary of Commerce, serving during the first term of President Bill Clinton. He was the first African American to hold this position. He was killed, along with 34 others, in a 1996 plane crash in Croatia.
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William C. Ferguson William C. Ferguson (died October 14, 2015) was a telecommunications executive who served as chairman and CEO of NYNEX.