Leahy oversees NASD global comms review

Robert Leahy has been appointed senior vice-president of corporate communications at the National Association of Securities Dealers, parent of the world’s second largest stock market, Nasdaq.

Robert Leahy has been appointed senior vice-president of corporate

communications at the National Association of Securities Dealers, parent

of the world’s second largest stock market, Nasdaq.



The appointment comes nearly a year after NASD was censured by the

Securities and Exchange Commission for failing to discharge its

obligations as a self-regulatory organisation. NASD failed to take

appropriate action against anti-competitive activities in the Nasdaq

stock market, the commission ruled.



With the exception of advertising, Leahy will oversee all global

communications for the association’s two subsidiaries, NASD Regulation

(which regulates brokers and their firms) and Nasdaq (which is a

computerised exchange with no central dealing floor).



Leahy joined last month from US newsprint manufacturer Bowater

Incorporated, where he was vice-president of corporate relations from

1993. He is overseeing a restructure of the in-house communications team

and plans to instigate a global review of the work farmed out to

agencies.



Leahy said: ’Part of my feeling is that some of this work can be done

in-house.’



There are 44 in-house communications people at NASD headquarters in

Washington DC. The association has retained Burson-Marsteller for US and

international work, according to Leahy. Nasdaq also has a network of

agencies in Europe.



It retains Citigate in the UK, Information et Entreprise in France, Wirz

in Switzerland and Gavin Anderson and Co in Germany.



Ogilvy Adams and Rinehart’s UK office manage these agencies for Nasdaq

on a day to day basis.



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