NYSE CEO talks politics, economics

A crowd gathered at Fuqua Tuesday afternoon to hear NYSE Euronext Chief Executive Officer Duncan Niederauer speak about U.S. policy and finance.

Niederauer spoke as a part of the Fuqua School of Business’ Distinguished Speaker Series and drew the audience’s attention to changes he supports to secure the U.S.’s place in the world economy in the coming decade.

“President Obama needs to convey that the U.S. is open not just for business but [open] to business,” he said, adding that the Obama administration needs to stop supporting potential policies that would undermine American corporations and the strength of the U.S. economy.

An increase of the capital gains tax or a disruption of the balance of free trade would be problematic for major corporations, he said. Many companies that now have their headquarters in the U.S. would be forced to move elsewhere, he added. With the right policies, however, Niederauer said he is confident that the U.S. can promptly recover from the recent recession.

With an audience primarily consisting of graduate students, Niederauer also gave advice on entering the finance industry. When asked about the best places for graduates to submit their resumes, Neiderauer recommended that students “cast a wide net.” He told the audience that his first job out of college was a managing position at an Atlanta restaurant—not a typical start for a Wall Street executive.

Neiderauer also emphasized the continuing importance of proximity and access to financial centers such as New York and London, but he also recognized opportunities in emerging world markets such as China, India and Brazil.