FINSwire Apr 14 2011

Merrill's Shavel Joins NASDAQ Amid Bidding War

By kyle stock

NASDAQ OMX Group Inc. has enlisted a Merrill Lynch veteran to help wage its bidding war for NYSE Euronext.

Lee Shavel, 44,most recently head of Merrill's financial institutions investment banking in the Americas, will fill NASDAQ's CFO office on May 23, according to a release this afternoon. He will also take the title of executive vice president of corporate strategy.

Shavel replaces Adena Friedman, who decamped to Carlyle Group in March. Among other deals, Shavel worked on the 2007 sale of International Securities Exchange to Deutsche Boerse and the 2008 sale of the New York Mercantile Exchange to CME Group Inc. He also worked on the NASDAQ IPO in 2002.

The exchange operator also recently hired back former CFO David Warren in a new role as special advisor to CEO Bob Greifeld.

Write to Kyle Stock

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