Commentary

Jared Dillian
Traders Magazine Online News

Was it Worth It?

In this piece from 10th Man, author Jared Dillian discusses how the ETF revolution is less about ETFs and more about indexing; about how people have come to view stocks less as stocks and more as blobs of stocks.

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August 31, 1998

Levitt's SEC Office Hires Former Salmon Legal Pro

By Jeffrey L. Winograd

Salomon Smith Barney's loss is Securities and Exchange Commission Chairman Arthur Levitt's gain.

The SEC has recruited Annette Nazareth, a managing director and deputy head of Salomon's capital-markets legal group in New York, to join the SEC as Levitt's senior counsel. Nazareth has more than two decades of experience, including her recent position at Salomon.

Nazareth will be responsible for advising Levitt on a range of market-regulation, municipal-securities and compliance issues. She will also be "instrumental" in the development of policies in these areas, according to an SEC statement.

Meanwhile, Glen Shipway has been elevated to executive vice president of trading and market services at Nasdaq, succeeding J. Patrick Campbell, who was named Nasdaq's chief operating officer.

Shipway will have day-to-day responsibility for the operation of Nasdaq. He will manage relations with market makers, order-entry firms, vendors, electronic communications networks and subscribers to Nasdaq market services. The nine-year Nasdaq veteran will also participate in planning and policy decisions affecting market operations, structure and systems.

The National Association of Securities Dealers also tapped one of its own for promotion. Michael Jones, who joined the NASD two years ago, has been named the association's chief administration officer (CAO).

As CAO, Jones will provide oversight for the NASD's 18 facilities nationwide. In addition, he will oversee operations and administration budgets. He will also continue as senior vice president of the Office of the Individual Investor, and interim senior vice president of corporate communications.