The New York Stock Exchange (NYSE) has appointed COO Stacey Cunningham as its first female president, an NYSE spokeswoman has said.
Cunningham will replace Thomas Farley, who has served as the company’s president since 2014.
Farley is reportedly planning on taking up a new role as the head of special-purpose acquisition company Far Point.
Cunningham, who started as an intern back in 1994, became NYSE’s COO in June 2015 and managed the company’s cash equities markets, relationship management, product management, and NYSE governance services.
Cunningham’s appointment follows the naming of Adena Friedman as chief executive of Nasdaq in 2017, and means that two of the world’s most important stock exchanges will be run by women.
Cunningham told the Wall Street Journal that she “loved the place right out of the gate” and now she’s “excited to be running it.”
The new role is a far cry from culinary management, which Cunningham studied for nine months, including a stint working at a New York restaurant.
But in an interview with the FT last year compared her experience of trading with hospitality management.
"The way you interact with your co-workers during stress - everyone knows not to take it personally, for the most part," she said of the two experiences.
"On the floor you might in the heat of the moment be aggressively fighting over a trade, and at the end of the day go grab a beer together."