Nasdaq Promotes Randich to CIO in Wake of Bailar's Departure

Steve Randich was named chief information officer and executive vice president of operations & technology at The Nasdaq Stock Exchange, according to an Oct. 12 announcement.

He replaces Gregor Bailar who resigned last week to become CIO of Capital One Financial Corp., based in Falls Church, Va. Bailar who joined Nasdaq from Citigroup in 1998, will stay on through the end of October and start at Capital One on Nov. 15.

Randich, who is currently responsible for all technology development and management of data center operations in Connecticut, will now assume responsibility for Nasdaq's market operations, corporate information security and the program management office.

In a statement, Wick Simmons, chairman and chief executive officer of Nasdaq, said that Randich would drive technology initiatives including the SuperMontage trading system.

Randich had served as chief technology officer since joining Nasdaq in late 2000 from the Chicago Stock Exchange where he was the executive vice president and CIO overseeing all technology, trading floor and back-office operations and business product planning and development. He was previously a management principal at IBM Global Services in charge of large systems integration practice in the Northeast region of the United States. Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio