In today’s not the onion…
Duncan L. Niederauer, the former chief executive officer of the New York Stock Exchange (NYSE) Euronext, joined the board of directors of Fantex Holdings.
Mr. Niederauer stepped down from his position as CEO of the NYSE in May, last year after the smooth transition of the ownership of NYSE Euronext to Intercontinental Exchange Group.
Niederauer served as CEO of NYSE Euronext from 2007 to 2013. During his tenure, he helped transformed the NYSE and achieved growth while navigating through the financial crisis, evolving regulatory market conditions and industry consolidation. The NYSE became a consistent leader in IPOs, a resurgent, high-tech marketplace with a global focus.
Prior to his career at the NYSE, Mr. Niderauer served as managing director and co-head of equities execution services at Goldman Sachs & Co. He spent 22 years at the investment banking firm.
Mr. Niederauer is a true Wall Street pioneer
David M. Beirne, co-founder and chairman of Fantex Holdings described Mr. Niedarauer as a true Wall Street pioneer.
“We believe his unique experience – especially in identifying, developing and giving access to new asset classes – will be extraordinarily valuable as our subsidiary Fantex, Inc. continues to acquire cash flows from athlete brands,” said Mr. Beirne.
Mr. Niederauer said, “I’m honored to join the Fantex Holdings board, where I can combine my passion for financial innovation with my passion for sports and entertainment.”
He added that he spent much of his career focusing on providing broad access to new and innovative investments and noted that many asset classes are “simply a repackaging of existing assets.” However, he emphasized that the “Fantex platform offers investors something that’s truly new and truly unique.”
About Fantex Holdings
Fantex Holdings is the parent company of Fantex Inc and Fantex Brokerage Services. Fantex Inc is a brand building company, which acquires a minority stake in earnings from an athlete’s brand. It works to increase the value of athletes’ brand.
Fantex Brokerage Services is a FINRA-member broker/dealer that offers investors access to the unique asset category of stocks issued by Fantex Inc that are linked to the earnings potential of individuals—starting with sports.
Many investors have expressed skepticism with how the company and shareholder structure works.