Long-Term Stock Exchange Picks a Board With 80% Female Directors

(Bloomberg) -- Long-Term Stock Exchange became the latest new trading venue to appoint a diverse board.

The 10 directors consist of eight women and two men, including three people of color. The group includes Amy Hong, head of market-structure strategy at Goldman Sachs Group Inc., and Sayena Mostowfi, global chief operating officer of electronic equities at Citigroup Inc., the exchange said in a statement Friday. Last month, Members Exchange, the new venue founded by some of the biggest players in U.S. stocks, appointed a gender-balanced board.

“We’ve chosen people who have built and run sustainable businesses,” said Steve Goldstein, Long-Term Stock Exchange’s chief marketing officer. “We’ve also included a team of people from governance and finance to give the board what we hope will be a complete view of our ecosystem.”

As upstart venues look to grab share, they’re also looking to avoid the criticism established Wall Street firms are facing over their lack of diversity at the top. The new exchange, which is backed by Silicon Valley venture capital firms, is currently conducting tests. Its first-quarter launch was delayed because of the coronavirus pandemic, and the company hasn’t specified a new target date for its debut.

The exchange’s other board members are:

• David Berger, a partner at law firm Wilson Sonsini Goodrich & Rosati
• Erica Williams a partner at law firm Kirkland & Ellis LLP
• Kathleen Hamm, former counselor to the deputy secretary at the U.S. Treasury
• Kathy Sampson, former deputy general counsel, International Securities Exchange
• Kim Polese, chairman of CrowdSmart, an artificial-intelligence investment platform
• Maliz Beams, former chief executive officer of Voya Financial Inc.’s retirement business
• Michelle Greene, president of the exchange
• Zoran Perkov, CEO of the exchange

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