Elias Abboud
BofA Securities, Research Division
Good morning, everyone. I’m Elias Abboud. Craig Siegenthaler and I cover U.S. exchanges here at BofA, and I’m pleased to be joined on stage by Nasdaq’s CFO, Sarah Youngwood.
With 4,500 companies on its exchange, Nasdaq is the largest listing venue in the U.S. It is, of course, a leader in both stock and options exchange — options trading. But since 2017, it has been in the midst of a strategic pivot to being a scaled technology and information services provider as well. Today, nearly 80% of Nasdaq’s revenue is from nontrading businesses. This includes indexing data, corporate services, marketplace technology, regulatory reporting and financial crime management technology.
Sarah was appointed as CFO in 2023. Before coming to NASDAQ, she was the CFO for UBS, where she played a key role in modernizing the bank’s infrastructure and facilitating the acquisition of Credit Suisse. She also has 25 years of experience at JPMorgan, where she held senior roles in investment banking and Investor Relations and as the CFO of Chase and JPMorgan’s technology unit. Sarah, thank you for spending some time with us.