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Monday, July 6, 2009
Susquehanna's outside man quits for Nasdaq job

The public face of one of Philadelphia's most private big financial firms is leaving for a big job under Nasdaq CEO Bob Greifeld.

Susquehanna International Group LLP managing director Eric W. Noll, head of investment banking and Global Head of Strategic Relationships, is leaving after 15 years to take a job as Executive Vice President of Nasdaq OMX Transaction Services, bossing stock and options trading programs around the world, including what's left of the  Philadelphia Stock Exchange, which Nasdaq bought last year.

"My time here at SIG has been marvelous, and it has been one of the most exciting places to be and work in any industry," Noll told friends in a note. He confirmed to me that he's moving to New York, effective next Monday.

Noll was one of the highest-ranking early hires in a firm dominated by Susquehanna founder Jeff Yass and his cofounders, a group of card-counting, horse-handicapping, libertarian-leaning (but also quiet government-lobbying) Cornell University classmates.

Like them, Noll cut his trading teeth on the stock- and index-options trading floor of the PhilEx. Susquehanna employs more than 1,000, the largest group at its Bala Cynwyd headquarters but also at offices in New York, Chicago and other financial centers. The firm was among the seven specialists that handled most New York Stock Exchange trades, and was a major "program trader" handling high volumes for very small per-share profits, before pulling out of those businesses over the past year and a half.

Noll holds an MBA from Vanderbilt's Owen business school, and he's a trustee of Lancaster's Franklin and Marshall College, where he studied economics and government.

Posted by Joseph N. DiStefano @ 2:43 PM  Permalink | Post a comment
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About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column, which is printed in the business pages of The Philadelphia Inquirer every Sunday, Tuesday, Wednesday, Thursday and Friday. Joe has worked at the Inquirer, mostly, since 1988. He has also written for Bloomberg and Gannett, authored the book Comcasted, majored in economics at Penn, and fathered six children. Reach Joe at 215-854-5194 and JoeD@phillynews.com

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