Sharon Bowen named as NYSE chair, first Black woman

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Sharon Bowen named as NYSE chair, first Black woman

Sharon Bowen was named as chair of the New York Stock Exchange NYSE's parent company on Monday, becoming the first Black woman to hold the role at the Wall Street fixture.

The president of Intercontinental Exchange ICE, Lynn Martin, will take over as the NYSE president from Stacey Cunningham, who will join the exchange's board of directors.

As organizations adjust to a world changed by the Pandemic, our management team is evolving together with the market environment, ICE founder Jeff Sprecher said in a letter announcing the changes.

Bowen, who is a member of the ICE and the NYSE, served as a commissioner in the Commodity Futures Trading Commission from 2014 to 2017 on futures markets.

In 2010, Barack Obama appointed her to the vice chair of the body regulating US broker-dealers, the Securities Investor Protection Corporation.

Bowen worked as a partner and associate in law firms for three decades, specializing in business law.

The NYSE, which is located in New York's Lower Manhattan business district, bills itself as the world's largest stock exchange with 2,400 listed companies and a combined capitalization of $36 trillion.

In 2013 ICE acquired the NYSE Euronext Group, created by the merger of the American and European stock exchanges, for $8.2 billion.