BofA’s Investment Banking Loss Is NASDAQ’s Gain

NASDAQ OMX has appointed Lee Shavel to serve as the firm’s chief financial officer and executive vice president of corporate strategy.


He will join the company on May 23. 

Shavel leaves Bank of America (BofA), where he spent 18 years and currently serves as the firm’s Americas head of financial institutions in the investment banking division. Additionally, he was head of finance, securities and technology and global chief operating officer for the Financial Institutions Group at Merrill Lynch.  

While at BofA, Shavel advised and oversaw a string of well-known securities industry transactions, including the sale of the New York Mercantile Exchange (NYMEX) to CME Group, the sale of International Securities Exchange (ISE) to Deutsche Borse, the acquisition of BRUT by NASDAQ and the merger of Archipelago and REDIBook, NASDAQ says.  

In addition, Shavel has advised on IPOs for companies listing on NASDAQ, NYMEX, ISE, MF Global, Instinet and Archipelago, as well as on significant financial transactions for NASDAQ, BNY Convergex, NYSE Euronext and CME Group, among others.

Former NASDAQ CEO David Warren will continue to serve as special adviser to current CEO Bob Greifeld. Meanwhile,Ronald Hassen, senior vice president, controller and principal accounting officer at BofA, will continue to serve as CFO until Shavel arrives.