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Nasdaq Private Market Appoints Tom Callahan as Chief Executive Officer

Read the press release on GLOBE NEWSWIRE

NEW YORK and SAN FRANCISCO, April 19, 2022 (GLOBE NEWSWIRE) — Nasdaq Private Market (NPM), a leading marketplace for the efficient trading of private company stock, today announced the appointment of Tom Callahan as Chief Executive Officer. As CEO, Callahan will lead the next phase of NPM’s rapid growth in its evolution as a global leader in private market liquidity solutions. Since 2013, NPM has worked with more than 500 of the fastest growing venture-backed companies, facilitating $40 billion in secondary liquidity for 150,000 employees, stakeholders, and investors.

Callahan is a 30-year finance industry veteran who joins NPM from BlackRock, where he led the transformation of the firm’s Global Cash Management platform while serving as a member of the firm’s Global Operating Committee. BlackRock Cash Management is a $700 billion business focused on delivering comprehensive liquidity and balance sheet solutions to many of the world’s largest public and private corporations, with assets under management growing by approximately $500 billion during Callahan’s eight-year tenure. Prior to BlackRock, Callahan was the Chief Executive Officer of NYSE Liffe, the U.S. Futures exchange of NYSE Euronext. Previously, Callahan spent 15 years at Merrill Lynch where he held various leadership positions including Co-Head of Global Prime Brokerage, Head of European Interest Rate Trading, and Head of Global Money Markets.

“I am thrilled and honored to be joining NPM at this exciting growth phase as we continue to help private companies execute on the mission to deliver transparency, liquidity, and efficiency to companies, employees, and investors through access to secondary market liquidity in private company stock,” said Tom Callahan, Chief Executive Officer, NPM. “As a global platform, NPM is helping to bring much-needed innovation and development to the fast-growing but complex private market ecosystem.”

Eric Folkemer will continue as the President and Chief Operating Officer of NPM. Folkemer led the spin out of NPM from Nasdaq, Inc. to operate as a fully independent company and led the company’s efforts to bring about connectivity, efficiency, and transparency to the private market ecosystem via an institutional-grade, centralized, open-access technology platform for issuers, banks, brokers, shareholders, and prospective investors to buy and sell private company stock. NPM recently received capital funding from an industry-leading group of strategic investors, including Nasdaq, SVB Financial Group, Citi, Goldman Sachs, Morgan Stanley, and Allen & Company.

“Leveraging his deep experience in the public markets, Eric Folkemer saw an opportunity to bring organization, structure and efficacy to the private marketplace when he helped build the NPM platform eight years ago. Due to his foresight to evolve NPM as an independent company in 2021, and with the alliance of our industry-leading coalition of partners, NPM is well positioned to grow, scale and innovate at its active pace to compete in this fast-growing and complex sector. I look forward to working closely with Eric as we build a world class platform for our clients,” said Callahan.

About NPM

Founded in 2013, NPM supports private companies throughout all stages of their pre-IPO lifecycle. Its innovative technology facilitates private company stock transactions including tender offers, auctions, investor block trades, company directed windows of liquidity, and pre-direct listing continuous trading. In addition, the NPM platform provides investors with a leading marketplace and comprehensive settlement process management through its alternative trading system.

Forward-Looking Statements

This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including statements with respect to the formation of a joint venture by Nasdaq, SVB, Citi, Goldman Sachs, Morgan Stanley, and Allen & Company and the benefits of the joint venture, and statements about Nasdaq, Silicon Valley Bank, Citi, Goldman Sachs, Morgan Stanley and Allen & Company and their respective products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the control of the joint venture participants. These factors include, but are not limited to, factors detailed in each joint venture participant’s annual report on Form 10-K and periodic reports filed with the U.S. Securities and Exchange Commission. The joint venture participants undertake no obligation to release any revisions to any forward-looking statements.

NPM Media Contact

Amanda Gold

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