NEW YORK - Nasdaq (NASDAQ:NDAQ) has announced a strategic leadership reshuffle within its Financial Crime Management Technology business, appointing Stephanie Champion as the new Executive Vice President and Head of Nasdaq Verafin. The change takes effect immediately, following the transition of Brendan Brothers, co-founder of Verafin, into a senior advisory role.
The reorganization introduces an Executive Chair position, which will be filled by Jeremy Skule, Executive Vice President and Chief Strategy Officer of Nasdaq. Skule's expanded responsibilities will include guiding Nasdaq Verafin's strategic direction and global business expansion.
Stephanie Champion, a 13-year veteran of Verafin, has been promoted from her role as Senior Vice President and Head of Sales. She has been credited with playing a pivotal role in the company's growth, particularly in the mid-market and enterprise segments. Champion's leadership was instrumental in securing significant contracts with four Tier-1 and four Tier-2 banking clients within 18 months, contributing to Nasdaq Verafin's consistent revenue growth.
Nasdaq CEO Adena T. Friedman expressed confidence in the new appointments, highlighting Champion's extensive expertise and Skule's strategic leadership capabilities. The leadership changes are aimed at continuing the momentum of Nasdaq Verafin, recognized as a leading anti-financial crime platform.
Nasdaq Verafin provides fraud prevention and anti-money laundering solutions to over 2,500 banks, overseeing more than $9 trillion in assets. The company plays a critical role in addressing financial crime, a challenge that imposes a $3 trillion burden on the financial system globally.
The information in this article is based on a press release statement.
In other recent news, Nasdaq Inc. has made significant changes in its revenue accounting for AxiomSL contracts, aligning with the completion of U.S. GAAP purchase accounting for the Adenza acquisition. The company has also settled charges with the U.S. Commodity Futures Trading Commission by agreeing to pay $22 million. In addition, Nasdaq has submitted a filing to the Securities and Exchange Commission to launch Nasdaq Bitcoin Index Options, a tool for managing positions and hedging investments in the digital currency space. Furthermore, Nasdaq has reported a decrease in short interest across its Global Market and Capital Market securities as of late July. These are the latest developments for Nasdaq.
InvestingPro Insights
In the context of Nasdaq's (NASDAQ:NDAQ) recent leadership changes within its Financial Crime Management Technology business, it's worth noting some key financial metrics and insights from InvestingPro that may shed light on the company's current position in the market. Nasdaq has shown a commitment to growth and stability, as evidenced by its consistent dividend increases over the years. According to InvestingPro, Nasdaq has raised its dividend for 12 consecutive years, demonstrating a reliable return to shareholders.
From a market performance perspective, Nasdaq has delivered strong returns, with a notable 24.37% price total return over the last three months. This is complemented by the company trading near its 52-week high, with the price at 98.96% of this peak, as per the latest data. Such metrics can be indicative of investor confidence in the company's strategic direction and operational execution.
InvestingPro offers additional insights into Nasdaq's financials, with the company having a market capitalization of 42.27 billion USD and a price to earnings (P/E) ratio of 42.25. While the P/E ratio is on the higher side, suggesting a premium valuation, this could reflect the market's expectations of future growth and profitability. Moreover, Nasdaq has been profitable over the last twelve months, reinforcing the positive outlook held by analysts.
For readers interested in a deeper dive into Nasdaq's financial performance and future prospects, InvestingPro provides a suite of tips and metrics. Currently, there are 11 additional InvestingPro Tips available, which offer further analysis and information that could be valuable for investors and industry observers alike.
As Nasdaq continues to evolve its leadership and enhance its anti-financial crime capabilities, keeping an eye on these financial metrics and insights can provide a more comprehensive view of the company's standing and potential in the market.
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