Duncan L. Niederauer, a managing director at Goldman Sachs, has left the firm after 22 years to become president and co-chief operating officer of NYSE Group from 9 April.
He joins former colleague at Goldman Sachs, John A. Thain, who was president and COO of the investment bank before becoming CEO of the New York Stock Exchange in January 2004.
Niederauer will be responsible for running NYSE’s domestic cash equities operations, including institutional and member-firm client group sales and client services for both the New York Stock Exchange and NYSE Arca, the electronic platform created by the March 2006 merger of the New York market with Chicago’s Archipelago Holdings.
Niederauer will serve on the NYSE Group management committee and – once the merger is consummated – the NYSE Euronext management committee.