For the first time in 226-year history, the New York Exchange will be led by a woman. According to the reports, Stacey Cunningham will now become the 67th president of the Big Board.
Stacey Cunningham started her career as a floor clerk on the NYSE trading floor. She is also a chief operating officer for the NYSE Group will become President on Friday. While current NYSE President Thomas Farley is resigning to head a specific target acquisition company.
Current NYSE President Thomas will join in as a head of Far Point which is a special-purpose acquisition company, or SPAC. The company is backed by Daniel Loeb's hedge-fund firm Third Point LLC, according to the reports in News 18.
In June 2015, Cunningham became NYSE's chief operating officer and at that time managed the company's cash equities market including relationship management, product management, and NYSE governance services.
Earlier, the historically male-dominated financial industry has fought with its own issues attached to the '#MeToo' movement. While last month, it was announced that the "Fearless Girl" statue will be removed from her place staring down Wall Street's bronze "Charging Bull" to a new place facing the New York Stock Exchange. The "Fearless Girl" has become a global symbol of female business prowess.