Nasdaq has a long history of firsts. In 1971 it launched as the world’s first electronic stock market, providing a market-disrupting quotation system. 1992 brought its joining with the London Stock Exchange to facilitate the first intercontinental linkage of capital markets. The turn of the millennium saw Nasdaq become the first U.S. stock market to trade over the Internet. Nearly twenty years later, its transformation continued, and it realized yet another first: Adena Friedman, a long-time Nasdaq employee, became the first woman to lead a global exchange.
Repeatedly listed by Forbes as one of the world’s most powerful women, Friedman brought significant management experience in Nasdaq to the boardroom, having joined the company shortly after earning her MBA from Vanderbilt University’s Owen Graduate School of Management in 1993 and remaining a part of the company for over twenty years. She credits her undergraduate years at the all-girls Williams College, where she earned a BA in political science, as what developed her confidence in herself.
“I could feel that it was OK to be smart, and that I really loved math and science, and so I was able to really propel myself into those fields and not really have any of those sort of social pressures that sometimes co-ed environments can create...so I do think it did help me create a sense of confidence and realizing that I could be as strong and as smart as anyone else in the room.”
That confidence has served her well during her time as Nasdaq, as she worked to transform the company from a trade association into a global business organization. The company has prospered and expanded under her leadership, continuing its tradition of market innovation and acquisition. She also serves as a Class B director to the Federal Reserve Bank of New York and sits on the board of directors of FCLTGlobal, a non-profit organization that researches tools to encourage long-term investing, as well as the Vanderbilt University Board of Trust.
Outside of the office, Friedman does not hold back either: a mother of two, she earned a black belt in Tae Kwon Do and says her training has helped provide discipline and impressed upon her that success is in her control. She credits the sport for teaching her resilience, saying “I just need to decide to get back up, and keep fighting.”