Former Susquehanna exec Noll surprises many by leaving Nasdaq

Tom Paine

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Eric Noll, a long-time executive with Bala Cynwyd-based Susquehanna International and former official with the Philadelphia Stock Exchange (now owned by Nasdaq), surprised many in the exchange industry by announcing on Monday he was departing Nasdaq, where he was considered next in line for the CEO job by many, to become chief executive officer of ConvergEx Group LLC. Noll's title at Nasdaq was executive vice president of U.S. and U.K. transaction services.

Although Noll remains highly respected in the industry, he caught some of the flack for Nasdaq's mishandling of Facebook's IPO last year, as well as a major technical glitch that caused a three hour trading delay three months ago. At the time of the Facebook offering, one (possibly irrelevant) criticism was that he was in Philadelphia at the time it launched.

ConvergEX provides trading services to institutional investors. Noll joined Nasdaq from Susquehanna in 2009.