Nasdaq Private Market (NPM) has appointed a new Chief Executive Officer – Tom Callahan.
According to Nasdaq, Callahan is a financial services veteran with more than 30-years of experience at firms like BlackRock, NYSE Liffe, NYSE Euronext and Merrill Lynch. Most recently, Callahan led the transformation of BlackRock’s Global Cash Management platform while serving as a member of the firm’s Global Operating Committee.
Callahan said he is honored to be joining NPM at this exciting growth phase as they help private companies access secondary market liquidity:
“As a global platform, NPM is helping to bring much-needed innovation and development to the fast-growing but complex private market ecosystem.”
Since 2013, NPM reports that it has worked with more than 500 fast growing venture-backed companies, enabling $40 billion in secondary liquidity for investors.
NPM helps private firms through all stages of their pre-IPO lifecycle, including tender offers, auctions, investor block trades, company directed windows of liquidity, and pre-direct listing continuous trading.
Private securities markets have emerged as a much needed trading service as more companies strive to remain private as long as possible due to the expense of going public and the demand for ongoing, and at some times, extreme reporting requirements.
