Meyer (Sandy) Frucher

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Sandy Frucher
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Meyer S. (Sandy) Frucher is a veteran exchange executive who served as the Chairman and CEO of the Philadelphia Stock Exchange and later as vice chairman of Nasdaq, after PHLX was acquired by Nasdaq. He currently serves as a senior advisor to Nasdaq. He was a long serving member of the OCC board, retiring in 2024.[1][2]

He previously served as a member of the World Federation of Exchanges. [3][4]

He assumed the role of vice chairman of Nasdaq in July of 2008 when Nasdaq completed its acquisition of the Philadelphia Stock Exchange (PHLX). On October 21, 2019, Nasdaq announced that Frucher would end his 11-year tenure as vice chairman and assume the role of strategic advisor effective January 1, 2020.[5]

Frucher was chairman and chief executive officer of the Philadelphia Stock Exchange from 1998 to 2008. [6] He was responsible for global exchange relationships and served as a senior advisor to Nasdaq’s senior management team on a broad range of industry and regulatory issues.[7][8]

He received the Joseph W. Sullivan Award at the annual Options Industry Council (OIC) conference in 2013.

Background[edit]

Frucher was appointed chairman and chief executive officer of the Philadelphia Stock Exchange (PHLX) in June 1998. In 2004, he oversaw the demutualization of the PHLX, which became the first floor-based exchange in the U.S. to convert from a seat-owned, mutual cooperative institution to a for-profit, shareholding company. He also led the revitalization of the Philadelphia Board of Trade (PBOT), the futures market subsidiary to the PHLX.[9]

Before joining the PHLX, Frucher served as a management consultant to organizations including World Financial Properties Inc. (formerly Olympia and York). He served as executive vice-president of development for Olympia and York from 1988 to 1996. He served from 1984 to 1988 as president and CEO of the Battery Park City Authority in New York City. Frucher was chief labor negotiator for the state of New York from 1978 to 1983.

He is the founding chairman and emeritus board member of the Massachusetts Museum of Contemporary Art, having served from 1992 to 2002. [10]

Education[edit]

Frucher received a bachelor's degree in government from Columbia University and earned a Master of Public Administration degree from the John F. Kennedy School of Government, Harvard University.

References[edit]

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