News From NewYorkBusiness.com
Cuomo asks HUD to block Starrett City deal
HUD Secretary Alphonso Jackson was urged to block the $1.3 billion sale of the Brooklyn apartment complex to an investment group led by David Bistricer.
Merck debt ratings cut over suits, patents
Fitch Ratings downgraded Merck and Co.'s ratings, citing a series of lawsuits related to Vioxx and the current or pending expiration of patents for several of the drugmaker's top selling drugs.
Judge gives go-ahead for Air America sale
SL Green Realty founder Stephen Green offered to buy the liberal talk radio network for $4.25 million last month.
Chris Concannon, 39
Executive Vice President
Nasdaq Stock Market
When he was a cornerback with the Catholic University football team, Chris Concannon became expert in how to deal with bigger, more athletic players.
"You've got to figure out ways to slow your opponent down, to get in front of him and make him take a route he doesn't want to take," he says.
Mr. Concannon uses that philosophy today to intercept business from the New York Stock Exchange.
As head of Nasdaq's trading operations, he's overseen a near doubling in revenue, to $1 billion, through the first nine months of last year. Meanwhile, Nasdaq's share of trading NYSE-listed stocks has soared to 12% from about 1% a year ago. Mr. Concannon, one of the first people hired to join the regime of Chief Executive Robert Greifeld when he took over in 2003, is now helping devise strategy for Nasdaq as it bids for the London Stock Exchange and is spearheading the exchange's expansion into options trading.
"He's got a better grasp of where the market is going than anyone in the industry," says Seth Merrin, chief executive of Liquidnet, a Manhattan trading firm.
It's an unlikely position for a Long Island native who was a Washington securities lawyer until electronic trading pioneer Island called in 1997. After his clients at major brokerage houses told him how much they disliked the upstart but admired its technology, he took the job.
"They got me thinking that there was really something to electronic trading," he says.