Author: Reto Francioni

ROBERT A. SCHWARTZ is Marvin M. Speiser Professor of Finance andUniversity Distinguished Professor in the Zicklin School ofBusiness, Baruch College, CUNY. Prior to his current position, hewas Professor of Finance and Economics and Yamaichi Faculty Fellowat New York University”s Leonard N. Stern School of Business.Professor Schwartz received his PhD in economics from ColumbiaUniversity. He has produced numerous journal articles and elevenbooks, has been an associate editor for several finance journals, and has served as a consultant to various market centers including, the New York Stock Exchange, the American Stock Exchange, NASDAQ, Instinet, and Deutsche Börse. In December 1995, ProfessorSchwartz was named the first chairman of NASDAQ”s EconomicAdvisory Board and served on the EAB until spring 1999. RETO FRANCIONI is President and Chairman of the Board of SWX, theSwiss Stock Exchange. Prior to assuming his current position in May2002, he was co-CEO of Consors Discount Broker AG, Nuremberg.Earlier in his career, in 1993, Francioni was named to theexecutive board of Deutsche Börse AG, where he was responsiblefor its entire cash market division. In 1999, he became DeputyChief Executive Officer. Francioni has a law degree and PhD in lawfrom Zurich University, and is an adjunct Professor of Economicsand Finance in the Zicklin School of Business, Baruch College, CUNY. He has held management positions in the securities exchange, corporate finance, and banking industry.