Frank Zarb
CEO of the National Association of Securities Dealers, Inc.
Live Web cast June 13, 2000, 1 p.m. ET

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Over the past year, the Nasdaq stock market has taken a rip-roaring roller-coaster ride full of unexpected, dramatic turns. It's Frank Zarb's job to keep the cars on track so consumers still want to ride.

Frank Zarb, is Chairman and CEO of the National Association of Securities Dealers, Inc. (NASD). To oversimplify, the Nasdaq market is the home of many high-tech, "new economy" stocks, as opposed to "old economy" blue chip stocks more frequently found on the New York Stock Exchange (NYSE).

Trading on the Nasdaq stock market, the world's first electronic stock market, began in 1971. Today, Nasdaq is the fastest growing stock market in the United States, and ranks second among the world's securities markets in terms of dollar volume. (By way of contrast, the NYSE's history dates back to 1792, when 24 stock brokers gathered beneath a Buttonwood Tree outside 68 Wall Street and signed an agreement to trade with one another.)

As head of NASD Inc., Zarb runs the securities industry's largest self-regulated organization. NASD is the parent company of the Nasdaq-Amex Market Group, Inc. and NASD Regulation, Inc. Through those subsidiaries, NASD develops rules and regulations, conducts regulatory reviews of members' business activities, and disciplines violators. NASD also designs, operates, and regulates securities markets and services for today's investors. It's a lot of work, but Zarb is no stranger to hard work.

Growing up in Brooklyn, N.Y., Zarb worked as a delivery boy to earn money for the family. He went to a vocational high school to learn how to become an airplane mechanic. A teacher saw Zarb's promise and urged him to go to college. Zarb did, working his way through Hofstra University on Long Island After serving in the military, he worked his way up Wall Street, gaining a reputation as a fine manger and problem-solver.

His reputation as a problem solver in the private sector traveled to the public sector. Over the years, many Presidents have enticed Zarb to help solve seemingly intractable problems-including energy. In the mid-1970s, during the international oil crisis when gasoline prices were soaring, President Ford made Zarb the nation's energy czar.

From 1974 through 1977, Zarb was as the senior official for all United States government energy-related activities serving as Executive Director of the Cabinet-level Energy Resources Council, Administrator of the Federal Energy Administration, and Assistant to the President for Energy Affairs. Zarb also served as Associate Director of the Office of Management and Budget from 1973 to 1974, and as Assistant Secretary of Labor between 1971 and 1972. He served in various capacities with the Nixon, Ford, Reagan, Bush, and Clinton administrations.

Zarb has an equally distinguished record in the private sector, with senior positions at Alexander & Alexander Services, Inc., the Travelers, Inc., Smith Barney, and Lazard Freres & Co among others.

Related Web Sites
www.nasd.com