Adena Friedman: Difference between revisions

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| name        = Adena Friedman
| name        = Adena Friedman
| birth_name  = Adena Robinson Testa
| birth_name  = Adena Robinson Testa
| birth_date  = {{Birth year and age|1969}}
| birth_date  = {{birth year and age|1969}}
| birth_place  = [[Baltimore, Maryland]], United States
| birth_place  = [[Baltimore, Maryland]], United States
| nationality  = American
| nationality  = American
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| known_for    = First woman to lead a major global exchange
| known_for    = First woman to lead a major global exchange
| children    = 2
| children    = 2
| education    = [[Vanderbilt University]] (BA), [[Columbia Business School]] (MBA)
| education    = [[Williams College]] (BA); [[Vanderbilt University]] (MBA)
| awards      = Forbes Power Women list; Fortune Most Powerful Women list; American Banker Most Powerful Women in Finance
| awards      = Forbes Power Women list; Fortune Most Powerful Women list; American Banker Most Powerful Women in Finance
| website      = {{URL|https://www.nasdaq.com/about/our-people/adena-t.-friedman}}
| website      = {{URL|https://www.nasdaq.com/about/our-people/adena-t.-friedman}}
}}
}}


'''Adena T. Friedman''' (née '''Adena Robinson Testa'''; born 1969) is an American business executive who serves as the Chair and Chief Executive Officer of [[Nasdaq|Nasdaq, Inc.]], the global technology company that operates the [[Nasdaq Stock Market]] and provides technology, data, and analytics services to capital markets worldwide. Friedman made history in January 2017 when she became the first woman to lead a major global securities exchange.<ref name="nyt-ceo">{{cite news |last=Popper |first=Nathaniel |date=2016-11-14 |title=Nasdaq Names a New Chief Executive |url=https://www.nytimes.com/2016/11/15/business/dealbook/nasdaq-names-a-new-chief-executive-adena-f.html |work=The New York Times |access-date=2026-02-24}}</ref> Her career at Nasdaq spans more than three decades, beginning in 1993, with an intervening period at [[The Carlyle Group]], where she served as a managing director and chief financial officer.<ref name="reuters-return">{{cite news |title=Nasdaq names Carlyle's Friedman as president |url=https://www.reuters.com/article/nasdaq-managementchanges-idUSL3N0NY1EU20140512 |work=Reuters |date=2014-05-12 |access-date=2026-02-24}}</ref> Under her leadership, Nasdaq has evolved from a traditional stock exchange into a diversified technology and analytics company, expanding into areas including compliance software, anti-financial crime solutions, and artificial intelligence applications.<ref name="ambanker">{{cite web |title=2025 The Most Powerful Women in Finance, No. 6, Adena Friedman, Nasdaq |url=https://www.americanbanker.com/news/2025-the-most-powerful-women-in-finance-no-6-adena-friedman-nasdaq |publisher=American Banker |date=2025-10-01 |access-date=2026-02-24}}</ref> Forbes has repeatedly recognized Friedman on its annual Power Women list, ranking her 45th on the 2025 edition.<ref name="forbes-profile">{{cite web |title=Adena Friedman |url=https://www.forbes.com/profile/adena-friedman/ |publisher=Forbes |date=2025-12-10 |access-date=2026-02-24}}</ref>
'''Adena T. Friedman''' (born '''Adena Robinson Testa'''; 1969) is an American business executive who serves as the Chair and Chief Executive Officer of [[Nasdaq|Nasdaq, Inc.]], the global technology company that operates the [[Nasdaq Stock Market]] and provides trading, clearing, exchange technology, listing, information, and public company services across six continents. Friedman made history in January 2017 when she was named CEO of Nasdaq, becoming the first woman to lead a major global exchange.<ref name="nyt-ceo">{{cite news |date=2016-11-14 |title=Nasdaq Names a New Chief Executive, Adena Friedman |url=https://www.nytimes.com/2016/11/15/business/dealbook/nasdaq-names-a-new-chief-executive-adena-f.html |work=The New York Times |access-date=2026-02-24}}</ref> Before returning to Nasdaq in 2014, she served as a managing director and Chief Financial Officer of [[The Carlyle Group]], one of the world's largest private equity firms.<ref name="reuters-return">{{cite news |date=2014-05-12 |title=Nasdaq management changes |url=https://www.reuters.com/article/nasdaq-managementchanges-idUSL3N0NY1EU20140512 |work=Reuters |access-date=2026-02-24}}</ref> Under her leadership, Nasdaq has expanded well beyond its origins as a stock exchange, diversifying into areas including compliance software, anti-financial crime technology, and artificial intelligence applications for capital markets.<ref name="ambanker">{{cite news |date=2025-10-01 |title=2025 The Most Powerful Women in Finance, No. 6, Adena Friedman, Nasdaq |url=https://www.americanbanker.com/news/2025-the-most-powerful-women-in-finance-no-6-adena-friedman-nasdaq |work=American Banker |access-date=2026-02-24}}</ref> Friedman has been recognized repeatedly on [[Forbes]]' annual Power Women list, ranking 45th in 2025,<ref name="forbes-profile">{{cite web |title=Adena Friedman |url=https://www.forbes.com/profile/adena-friedman/ |publisher=Forbes |date=2025-12-10 |access-date=2026-02-24}}</ref> and has appeared on [[Fortune (magazine)|Fortune]]'s Most Powerful Women list. She has spoken publicly on topics including the future of capitalism, the modernization of public markets, and the role of technology and artificial intelligence in reshaping finance.


== Early Life ==
== Early Life ==


Adena Robinson Testa was born in 1969 in [[Baltimore, Maryland]], to parents Adena W. Testa and Michael D. Testa.<ref name="nyt-wedding">{{cite news |date=1993-08-22 |title=Weddings; Adena R. Testa, Michael Friedman |url=https://www.nytimes.com/1993/08/22/style/weddings-adena-r-testa-michael-friedman.html |work=The New York Times |access-date=2026-02-24}}</ref> She grew up in the Baltimore area and attended [[Alford Lake Camp]] in Maine during her youth, an experience she has cited as formative in developing her leadership skills and self-confidence.<ref name="alford">{{cite web |title=Adena Friedman |url=https://web.archive.org/web/20161115140318/http://www.alfordlakecamp.com/friedman |publisher=Alford Lake Camp |access-date=2026-02-24}}</ref>
Adena Robinson Testa was born in 1969 in [[Baltimore, Maryland]].<ref name="nyt-wedding">{{cite news |date=1993-08-22 |title=Weddings; Adena R. Testa, Michael Friedman |url=https://www.nytimes.com/1993/08/22/style/weddings-adena-r-testa-michael-friedman.html |work=The New York Times |access-date=2026-02-24}}</ref> She is the daughter of Adena W. Testa and Michael D. Testa. Friedman grew up in the Baltimore area and attended [[Alford Lake Camp]] in Maine during her youth, an experience she has cited as formative.<ref name="alford">{{cite web |title=Adena Friedman |url=https://web.archive.org/web/20161115140318/http://www.alfordlakecamp.com/friedman |publisher=Alford Lake Camp |date= |access-date=2026-02-24}}</ref>


Friedman has spoken publicly about the values instilled in her during her upbringing, including a strong work ethic and intellectual curiosity. Growing up in Baltimore, a city with deep ties to American commerce and industry, she developed an early interest in business and finance. Her path toward the financial services industry began to take shape during her undergraduate and graduate studies, where she focused on economics and business.
Details about Friedman's childhood and family background beyond these facts are limited in publicly available sources. Her upbringing in Baltimore placed her in proximity to [[Washington, D.C.]], where she would later begin her career at Nasdaq's offices.


== Education ==
== Education ==


Friedman attended [[Vanderbilt University]], where she earned a [[Bachelor of Arts]] degree. She subsequently pursued graduate studies at [[Columbia Business School]], earning a [[Master of Business Administration]] (MBA).<ref name="nyt-wedding" /> Her education at two of the United States' prominent academic institutions provided a foundation in economics, finance, and management that would inform her subsequent career in financial markets and technology.
Friedman attended [[Williams College]], a private liberal arts college in [[Williamstown, Massachusetts]], where she earned a [[Bachelor of Arts]] degree. She subsequently pursued graduate education at [[Vanderbilt University]]'s [[Owen Graduate School of Management]] in [[Nashville, Tennessee]], where she received a [[Master of Business Administration]] (MBA).<ref name="nyt-wedding" /> Her educational background in both liberal arts and business provided a foundation for the career she would build at the intersection of technology and capital markets.


== Career ==
== Career ==


=== Early Career at Nasdaq (1993–2011) ===
=== Early career at Nasdaq (1993–2011) ===


Friedman joined Nasdaq in 1993, the same year she married Michael Friedman.<ref name="nyt-wedding" /> Over the course of nearly two decades at the company, she rose through the ranks, holding a series of increasingly senior positions. During this initial tenure, she gained deep expertise in the operations, technology, and business strategy of financial exchanges and capital markets. She developed a thorough understanding of the complex infrastructure that underpins modern securities trading, from market surveillance systems to listing services.
Friedman joined Nasdaq in 1993, beginning what would become a lengthy and consequential tenure at the organization.<ref name="wsj-reimagining">{{cite news |last= |first= |date=2017-02-03 |title=Nasdaq's New CEO Adena Friedman Has a Big Job: Reimagining the Stock Exchange |url=https://www.wsj.com/articles/nasdaqs-new-ceo-adena-friedman-has-a-big-job-reimagining-the-stock-exchange-1486117802 |work=The Wall Street Journal |access-date=2026-02-24}}</ref> Over the course of nearly two decades at the company, she rose through a series of increasingly senior positions. During this initial period at Nasdaq, Friedman held roles spanning the company's core businesses, gaining experience in the operational, financial, and strategic dimensions of running a global exchange and technology company.


During her first period at Nasdaq, the company underwent significant transformation. The exchange transitioned from a dealer-based market to an electronic trading platform, and Friedman was involved in many of the strategic and operational changes that accompanied this evolution. Her work during this era helped shape Nasdaq's identity as a technology-forward exchange, distinguishing it from more traditional competitors.
By the time she departed Nasdaq in 2011, Friedman had established herself as one of the most senior executives in the organization and had developed deep expertise in exchange operations, market technology, and corporate strategy. Her departure to join The Carlyle Group marked a significant shift in her career trajectory, moving from the public markets infrastructure space into private equity.
 
By the time she departed Nasdaq in 2011, Friedman had established herself as one of the most senior female executives in the global financial exchange industry, with broad experience spanning multiple divisions of the company.


=== The Carlyle Group (2011–2014) ===
=== The Carlyle Group (2011–2014) ===


In 2011, Friedman left Nasdaq to join [[The Carlyle Group]], one of the world's largest private equity firms, where she served as a managing director and chief financial officer.<ref name="reuters-return" /> At Carlyle, she was responsible for overseeing the firm's financial operations and played a role in the company's public listing and financial strategy. The position gave her exposure to a different segment of the financial services industry, including private equity, alternative investments, and the operational challenges of managing a publicly traded investment firm.
After leaving Nasdaq, Friedman joined [[The Carlyle Group]], one of the world's largest alternative asset management firms, where she served as a managing director and Chief Financial Officer.<ref name="reuters-return" /> At Carlyle, Friedman was responsible for overseeing the firm's financial operations during a period of significant growth and transformation in the private equity industry.


Her time at Carlyle broadened her executive experience beyond the exchange business, providing her with insights into corporate finance, investor relations, and the management of a global financial services organization. This period proved to be a significant chapter in her professional development, adding to her credentials as a versatile financial executive.
Her time at Carlyle provided Friedman with a different vantage point on the financial services industry, exposing her to the world of private equity, alternative investments, and institutional asset management. The experience broadened her understanding of how institutional investors evaluate opportunities and allocate capital — knowledge that would prove valuable when she returned to lead Nasdaq.


=== Return to Nasdaq and Rise to CEO (2014–2017) ===
=== Return to Nasdaq and appointment as President (2014) ===


In May 2014, Friedman returned to Nasdaq, joining as President of Global Corporate and Information Technology Solutions.<ref name="reuters-return" /> In this role, she oversaw Nasdaq's corporate solutions business and its growing technology services division, which provided market infrastructure technology to exchanges and financial institutions around the world.
In May 2014, Friedman returned to Nasdaq, joining the company as President of Global Corporate and Information Technology Solutions.<ref name="reuters-return" /> Her return was part of a broader leadership reshuffling at the company under then-CEO [[Robert Greifeld]]. In this role, Friedman oversaw key business lines that were central to Nasdaq's strategy of diversifying beyond its traditional exchange operations. The position placed her in charge of technology solutions that Nasdaq provided to other exchanges and market participants around the world, as well as the company's corporate services business, which included listing services and corporate governance solutions.


Her return to Nasdaq came at a time when the company was in the midst of a broader strategic transformation, seeking to diversify its revenue beyond traditional exchange operations and into areas such as technology licensing, data analytics, and corporate governance services. Friedman played a central role in shaping and executing this strategy.
Friedman's return signaled that she was being positioned for a larger leadership role within the organization. Her combination of deep institutional knowledge of Nasdaq, gained during her nearly two decades at the company, and the external perspective she had developed at Carlyle made her a natural candidate for the top job.


On November 14, 2016, Nasdaq announced that Friedman had been named as the company's next CEO, effective January 2017, succeeding [[Robert Greifeld]], who had led the company since 2003.<ref name="nyt-ceo" /> The appointment made her the first woman to serve as CEO of a major global securities exchange, a milestone that attracted significant media attention.<ref name="wsj-ceo">{{cite news |date=2017-02-03 |title=Nasdaq's New CEO, Adena Friedman, Has a Big Job: Reimagining the Stock Exchange |url=https://www.wsj.com/articles/nasdaqs-new-ceo-adena-friedman-has-a-big-job-reimagining-the-stock-exchange-1486117802 |work=The Wall Street Journal |access-date=2026-02-24}}</ref>
=== CEO of Nasdaq (2017–present) ===


The Wall Street Journal characterized the challenge facing Friedman upon assuming the CEO role as nothing less than "reimagining the stock exchange," reflecting the broader industry shifts that were transforming the business of operating financial markets.<ref name="wsj-ceo" />
On November 14, 2016, Nasdaq announced that Friedman would succeed Robert Greifeld as Chief Executive Officer, effective January 1, 2017.<ref name="nyt-ceo" /> The appointment made her the first woman to lead a major global exchange, a milestone that attracted significant attention in the financial industry and beyond.<ref name="bbc">{{cite news |date=2019-05-09 |title=Adena Friedman |url=https://www.bbc.com/news/business-48205206 |work=BBC News |access-date=2026-02-24}}</ref>


=== Leadership as CEO and Chair ===
In a February 2017 profile, ''[[The Wall Street Journal]]'' described the scope of the challenge facing Friedman, noting that she had "a big job: reimagining the stock exchange" in an era when the traditional exchange business model was being disrupted by technological change, regulatory shifts, and evolving market structures.<ref name="wsj-reimagining" /> From the outset, Friedman signaled that she intended to continue and accelerate Nasdaq's transformation from a traditional stock exchange into a broader technology and analytics company serving the global financial system.


==== Strategic Transformation ====
==== Strategic transformation and diversification ====


Under Friedman's leadership, Nasdaq has continued its transformation from a traditional securities exchange into a diversified global technology company. She has pursued an aggressive strategy of acquisitions and organic growth aimed at expanding Nasdaq's presence in financial technology, data analytics, compliance software, and anti-financial crime solutions.<ref name="ambanker" />
Under Friedman's leadership, Nasdaq has pursued an aggressive diversification strategy. The company has expanded into compliance software, anti-financial crime technology, and data analytics, moving well beyond its historical identity as a stock exchange operator.<ref name="ambanker" /> According to ''American Banker'', which ranked Friedman sixth on its 2025 list of the Most Powerful Women in Finance, she has also succeeded in attracting exchange business from rival [[New York Stock Exchange|NYSE]].<ref name="ambanker" />


Friedman has pursued what ''The Wall Street Journal'' described as a "black belt in dealmaking," executing a series of significant acquisitions to build out Nasdaq's technology and data capabilities.<ref name="wsj-deals">{{cite news |title=Nasdaq CEO Adena Friedman Pursues a Black Belt in Dealmaking |url=https://www.wsj.com/articles/nasdaq-ceo-adena-friedman-pursues-a-black-belt-in-dealmaking-ddf6df69 |work=The Wall Street Journal |access-date=2026-02-24}}</ref> This dealmaking strategy has been central to Nasdaq's evolution, as the company has sought to build recurring revenue streams from software and data services rather than relying solely on transaction-based exchange revenue.
Friedman has pursued a series of acquisitions to execute this strategy. ''The Wall Street Journal'' noted in a profile that Friedman has pursued "a black belt in dealmaking," reflecting the pace and ambition of her acquisition strategy.<ref name="wsj-dealmaking">{{cite news |title=Nasdaq CEO Adena Friedman Pursues a Black Belt in Dealmaking |url=https://www.wsj.com/articles/nasdaq-ceo-adena-friedman-pursues-a-black-belt-in-dealmaking-ddf6df69 |work=The Wall Street Journal |access-date=2026-02-24}}</ref> These deals have been aimed at building out Nasdaq's capabilities in financial technology, data services, and regulatory compliance — areas that generate recurring revenue and are less dependent on market volatility than traditional exchange trading fees.


In addition to expanding through acquisitions, Friedman has also focused on winning exchange business from competitors. According to American Banker, under her leadership Nasdaq has succeeded in attracting exchange business from rival [[New York Stock Exchange]] (NYSE), while simultaneously diversifying the company's offerings with compliance software and anti-financial crime technology.<ref name="ambanker" />
==== Artificial intelligence and technology ====


==== Technology and Artificial Intelligence ====
Friedman has been a prominent voice on the application of [[artificial intelligence]] in financial services. In January 2026, she spoke at the [[World Economic Forum]] in [[Davos]], Switzerland, discussing AI transformation and regulatory reforms with [[Bloomberg Television|Bloomberg]].<ref name="bloomberg-davos">{{cite web |title=Watch Nasdaq CEO Adena Friedman on AI Transformation, Reforms |url=https://www.bloomberg.com/news/videos/2026-01-22/nasdaq-ceo-adena-friedman-on-ai-transformation-reforms-video |publisher=Bloomberg.com |date=2026-01-22 |access-date=2026-02-24}}</ref> In a separate interview with [[Semafor]] around the same time, Friedman discussed the challenges of funding and implementing AI in enterprises, describing the adoption of AI as "a massive change management exercise" and characterizing the broader effort as a "marathon" rather than a sprint.<ref name="semafor-ai">{{cite news |date=2026-01-22 |title=Nasdaq's Adena Friedman on funding the AI 'marathon' |url=https://www.semafor.com/article/01/22/2026/nasdaqs-adena-friedman-on-funding-the-ai-marathon |work=Semafor |access-date=2026-02-24}}</ref>


Friedman has been a prominent advocate for the adoption of technology and artificial intelligence in financial markets. In January 2026, she spoke at the [[World Economic Forum]] in [[Davos]], [[Switzerland]], where she discussed AI transformation and regulatory reforms in the financial industry.<ref name="bloomberg-davos">{{cite web |title=Watch Nasdaq CEO Adena Friedman on AI Transformation, Reforms |url=https://www.bloomberg.com/news/videos/2026-01-22/nasdaq-ceo-adena-friedman-on-ai-transformation-reforms-video |publisher=Bloomberg |date=2026-01-22 |access-date=2026-02-24}}</ref> In a separate interview with Semafor at Davos, she described the adoption of AI in enterprises as "a massive change management exercise" and characterized the funding of AI development as a "marathon" rather than a sprint.<ref name="semafor-ai">{{cite web |title=Nasdaq's Adena Friedman on funding the AI 'marathon' |url=https://www.semafor.com/article/01/22/2026/nasdaqs-adena-friedman-on-funding-the-ai-marathon |publisher=Semafor |date=2026-01-22 |access-date=2026-02-24}}</ref>
Friedman has positioned Nasdaq as a company that uses AI and machine learning across its operations, from market surveillance and fraud detection to data analytics and client services. This focus on technology has been central to Nasdaq's identity under her leadership and has been a key differentiator in the competitive landscape of exchange operators and financial technology providers.


At the 2025 All-In Summit, Friedman delivered remarks on the forces reshaping global markets, addressing the intersection of technology, regulation, and market structure.<ref name="nasdaq-allin">{{cite web |title=Nasdaq Chair and CEO Adena Friedman: How Markets are Rapidly Evolving |url=https://www.nasdaq.com/articles/nasdaq-chair-and-ceo-adena-friedman-how-markets-are-rapidly-evolving |publisher=Nasdaq |date=2025-09-18 |access-date=2026-02-24}}</ref>
==== Blockchain and market infrastructure ====


==== Blockchain and Digital Assets ====
In addition to AI, Friedman has spoken about the potential of [[blockchain]] technology to reshape traditional financial infrastructure. In November 2025, she outlined three ways blockchain could improve the financial system: by overhauling post-trade processes, enhancing transparency, and improving the efficiency of settlement and clearing operations.<ref name="yahoo-blockchain">{{cite news |date=2025-11-04 |title=Nasdaq CEO Adena Friedman Outlines 3 Ways Blockchain Can Fix Finance |url=https://sg.finance.yahoo.com/news/nasdaq-ceo-adena-friedman-outlines-172604699.html |work=Yahoo Finance |access-date=2026-02-24}}</ref> Her comments reflected Nasdaq's broader interest in exploring how emerging technologies can modernize market infrastructure.


Friedman has also articulated a vision for how [[blockchain]] technology could reshape the traditional financial system. In November 2025, she outlined three key ways blockchain could improve finance: by overhauling post-trade processes, enhancing transparency, and improving the efficiency of financial infrastructure.<ref name="yahoo-blockchain">{{cite web |title=Nasdaq CEO Adena Friedman Outlines 3 Ways Blockchain Can Fix Finance |url=https://sg.finance.yahoo.com/news/nasdaq-ceo-adena-friedman-outlines-172604699.html |publisher=Yahoo Finance Singapore |date=2025-11-04 |access-date=2026-02-24}}</ref> Her willingness to engage with emerging financial technologies has positioned Nasdaq as a participant in discussions about the future of capital markets infrastructure.
==== Public markets advocacy and IPOs ====


==== IPO Market and Regulatory Engagement ====
As CEO and later Chair of Nasdaq, Friedman has been an advocate for the health and vitality of public capital markets. In December 2025, she hosted [[U.S. Securities and Exchange Commission|SEC]] Chairman [[Paul Atkins]] at Nasdaq for a public discussion on "how to make IPOs great again," focusing on ways to encourage companies to go public and to make the listing process more accessible.<ref name="nasdaq-ipo">{{cite web |title=Nasdaq Chair and CEO Adena Friedman and SEC Chairman Paul S. Atkins Discuss How to Make IPOs Great Again |url=https://www.nasdaq.com/newsroom/nasdaq-chair-and-ceo-adena-friedman-and-sec-chairman-paul-s-atkins-discuss-how-make-ipos |publisher=Nasdaq |date=2025-12-03 |access-date=2026-02-24}}</ref> The event coincided with a celebration of the 250th anniversary of the founding of the United States.


In December 2025, Friedman hosted [[U.S. Securities and Exchange Commission]] (SEC) Chairman [[Paul S. Atkins]] at Nasdaq to discuss strategies for revitalizing the initial public offering (IPO) market. The event, timed to celebrate 250 years of the United States, focused on how to "make IPOs great again" and addressed regulatory and structural factors affecting public listings.<ref name="nasdaq-sec">{{cite web |title=Nasdaq Chair and CEO Adena Friedman and SEC Chairman Paul S. Atkins Discuss How to Make IPOs Great Again |url=https://www.nasdaq.com/newsroom/nasdaq-chair-and-ceo-adena-friedman-and-sec-chairman-paul-s-atkins-discuss-how-make-ipos |publisher=Nasdaq |date=2025-12-03 |access-date=2026-02-24}}</ref>
Friedman has spoken publicly about the forces reshaping global markets. In September 2025, she appeared at the All-In Summit, sharing her perspective on the evolving landscape of capital markets, technology, and regulation.<ref name="nasdaq-allin">{{cite web |title=Nasdaq Chair and CEO Adena Friedman: How Markets are Rapidly Evolving |url=https://www.nasdaq.com/articles/nasdaq-chair-and-ceo-adena-friedman-how-markets-are-rapidly-evolving |publisher=Nasdaq |date=2025-09-18 |access-date=2026-02-24}}</ref>


Friedman has maintained an active relationship with regulators and policymakers throughout her tenure. In 2018, she was appointed to the board of directors of the [[Federal Reserve Bank of New York]], reflecting her standing in the financial industry and her expertise in market structure and technology.<ref name="nyfed">{{cite web |title=Federal Reserve Bank of New York Announces Board Appointments |url=https://www.newyorkfed.org/newsevents/news/aboutthefed/2018/oa181127b |publisher=Federal Reserve Bank of New York |date=2018-11-27 |access-date=2026-02-24}}</ref>
==== Financial performance ====


==== Financial Performance ====
In early 2026, Friedman discussed Nasdaq's fourth-quarter financial results in an appearance on [[CNBC]]'s ''Squawk Box'', stating that she saw "a lot of momentum going into 2026" and discussing the impact of AI on the company's business and operations.<ref name="msn-q4">{{cite news |date=2026-02 |title=Nasdaq CEO Adena Friedman on Q4 results: See a lot of momentum going into 2026 |url=https://www.msn.com/en-us/money/companies/nasdaq-ceo-adena-friedman-on-q4-results-see-a-lot-of-momentum-going-into-2026/vi-AA1VffCp?ocid=finance-verthp-feeds |work=MSN |access-date=2026-02-24}}</ref>


Friedman has overseen strong financial performance at Nasdaq during her tenure as CEO. In discussing fourth-quarter 2025 results, she expressed optimism about the company's trajectory, stating that she saw "a lot of momentum going into 2026."<ref name="msn-q4">{{cite web |title=Nasdaq CEO Adena Friedman on Q4 results: See a lot of momentum going into 2026 |url=https://www.msn.com/en-us/money/companies/nasdaq-ceo-adena-friedman-on-q4-results-see-a-lot-of-momentum-going-into-2026/vi-AA1VffCp?ocid=finance-verthp-feeds |publisher=MSN |date=2026-02-03 |access-date=2026-02-24}}</ref>
=== Thought leadership and public speaking ===


==== Public Thought Leadership ====
Beyond her corporate role, Friedman has engaged in public discourse on topics including the future of capitalism and the role of markets in society. She delivered a [[TED talk]] titled "What's the Future of Capitalism?" in which she discussed how capital markets and corporate governance can evolve to address contemporary challenges.<ref name="ted">{{cite web |title=Adena Friedman: What's the future of capitalism? |url=https://www.ted.com/talks/adena_friedman_what_s_the_future_of_capitalism |publisher=TED |date= |access-date=2026-02-24}}</ref> She also contributed an essay to ''[[The Economist]]'''s ''The World In 2020'' edition, presenting ideas for modernizing capitalism.<ref name="economist">{{cite web |title=Ideas for modernising capitalism |url=https://worldin.economist.com/edition/2020/article/17512/ideas-modernising-capitalism |publisher=The Economist |date=2020 |access-date=2026-02-24}}</ref>


Beyond her corporate responsibilities, Friedman has been active as a public speaker and thought leader on topics related to capitalism, markets, and economic policy. She delivered a [[TED talk]] addressing the future of capitalism, in which she discussed how market systems can be modernized to better serve society.<ref name="ted">{{cite web |title=What's the future of capitalism? |url=https://www.ted.com/talks/adena_friedman_what_s_the_future_of_capitalism |publisher=TED |access-date=2026-02-24}}</ref> She also contributed an essay to ''[[The Economist]]'' publication ''The World In 2020'', presenting ideas for modernizing capitalism.<ref name="economist">{{cite web |title=Ideas for modernising capitalism |url=https://worldin.economist.com/edition/2020/article/17512/ideas-modernising-capitalism |publisher=The Economist |date=2020 |access-date=2026-02-24}}</ref>
In March 2020, during the early stages of the [[COVID-19 pandemic]], Friedman was featured in ''The New York Times''' "Corner Office" column, where she discussed the challenges of leading a critical financial infrastructure company during a period of extreme market volatility and operational disruption.<ref name="nyt-covid">{{cite news |date=2020-03-23 |title=Corner Office: Coronavirus |url=https://www.nytimes.com/2020/03/23/business/corner-office-coronavirus.html |work=The New York Times |access-date=2026-02-24}}</ref>


In March 2020, during the early stages of the [[COVID-19 pandemic]], Friedman was featured in ''The New York Times'' "Corner Office" column, where she discussed leadership challenges during a period of extraordinary market volatility and disruption.<ref name="nyt-covid">{{cite news |date=2020-03-23 |title=Corner Office: Coronavirus |url=https://www.nytimes.com/2020/03/23/business/corner-office-coronavirus.html |work=The New York Times |access-date=2026-02-24}}</ref>
== Personal Life ==


=== Board and Advisory Positions ===
Friedman married Michael Friedman in August 1993, as reported in the wedding announcements of ''The New York Times''.<ref name="nyt-wedding" /> The couple have two children.<ref name="nasdaq-bio">{{cite web |title=Adena T. Friedman |url=https://www.nasdaq.com/about/our-people/adena-t.-friedman |publisher=Nasdaq |date= |access-date=2026-02-24}}</ref>


In addition to her role at Nasdaq, Friedman has served on several external boards and advisory bodies. She was appointed to the board of directors of the Federal Reserve Bank of New York in November 2018.<ref name="nyfed" /> She has also served as a board director and strategic advisor to FCLTGlobal (Focusing Capital on the Long Term), an organization dedicated to encouraging long-term approaches to business and investment decision-making.<ref name="fclt">{{cite web |title=FCLTGlobal Appoints New Board Directors and Strategic Advisors |url=https://web.archive.org/web/20200321225855/https://www.fcltglobal.org/news/blog/article/2020/01/02/fcltglobal-appoints-new-board-directors-and-strategic-advisors |publisher=FCLTGlobal |date=2020-01-02 |access-date=2026-02-24}}</ref>
Friedman has maintained a connection to Alford Lake Camp in Maine, where she spent time during her youth. The camp has featured her on its website as a notable alumna.<ref name="alford" />


== Personal Life ==
== Recognition ==
 
Friedman married Michael Friedman in August 1993.<ref name="nyt-wedding" /> The couple has two children.<ref name="nasdaq-bio">{{cite web |title=Adena T. Friedman |url=https://www.nasdaq.com/about/our-people/adena-t.-friedman |publisher=Nasdaq |access-date=2026-02-24}}</ref> She has maintained a connection to Alford Lake Camp in Maine, where she attended as a young person, and has spoken about the role the camp played in her personal development.<ref name="alford" />


During the COVID-19 pandemic in 2020, Friedman discussed publicly the challenges of leading a critical financial infrastructure company during a global crisis, providing insight into how she managed both the professional demands of keeping markets functioning and the personal challenges of the period.<ref name="nyt-covid" />
Friedman has received numerous recognitions for her leadership in the financial industry. [[Forbes]] has included her on its annual Power Women list on multiple occasions. In 2023, she ranked 43rd on Forbes' list of the "World's 100 Most Powerful Women," and in 2025, she was listed at number 45.<ref name="forbes-profile" /><ref name="forbes-list">{{cite web |title=Power Women |url=https://www.forbes.com/lists/power-women/ |publisher=Forbes |date= |access-date=2026-02-24}}</ref>


== Recognition ==
''[[Fortune (magazine)|Fortune]]'' magazine has also recognized Friedman, ranking her 55th on its list of Most Powerful Women in 2023.


Friedman has received extensive recognition for her leadership in the financial industry. Forbes has repeatedly included her on its annual Power Women list, which ranks the most powerful women in the world. She was ranked 43rd on the 2023 edition of Forbes' "World's 100 Most Powerful Women" list, and rose to 45th on the 2025 edition.<ref name="forbes-profile" /><ref name="forbes-list">{{cite web |title=The World's 100 Most Powerful Women |url=https://www.forbes.com/lists/power-women/ |publisher=Forbes |access-date=2026-02-24}}</ref>
In October 2025, ''American Banker'' named Friedman number six on its list of the Most Powerful Women in Finance, noting her success in both growing Nasdaq's exchange business and diversifying into compliance software and anti-financial crime technology.<ref name="ambanker" />


American Banker named Friedman the sixth most powerful woman in finance in its 2025 rankings, citing her success in both growing Nasdaq's exchange business and diversifying the company into compliance software and anti-financial crime technology.<ref name="ambanker" />
=== Board memberships and advisory roles ===


Her appointment as CEO of Nasdaq in 2017 was itself a milestone, as she became the first woman to serve as chief executive of a major global securities exchange.<ref name="nyt-ceo" /> The [[BBC]] covered her leadership and role at Nasdaq as part of broader reporting on women in senior positions in the global financial industry.<ref name="bbc">{{cite news |title=Adena Friedman |url=https://www.bbc.com/news/business-48205206 |work=BBC News |access-date=2026-02-24}}</ref>
Friedman has served on several boards and advisory bodies outside of Nasdaq. In November 2018, she was appointed to the board of directors of the [[Federal Reserve Bank of New York]].<ref name="nyfed">{{cite web |title=New York Fed Announces Board of Directors Appointments |url=https://www.newyorkfed.org/newsevents/news/aboutthefed/2018/oa181127b |publisher=Federal Reserve Bank of New York |date=2018-11-27 |access-date=2026-02-24}}</ref>


Her appointment to the board of the Federal Reserve Bank of New York in 2018 further reflected her standing within the financial regulatory and policy community.<ref name="nyfed" />
In January 2020, she was appointed to the board of directors and as a strategic advisor for [[FCLTGlobal]] (Focusing Capital on the Long Term), an organization dedicated to encouraging long-term investing and corporate decision-making.<ref name="fclt">{{cite web |title=FCLTGlobal Appoints New Board Directors and Strategic Advisors |url=https://web.archive.org/web/20200321225855/https://www.fcltglobal.org/news/blog/article/2020/01/02/fcltglobal-appoints-new-board-directors-and-strategic-advisors |publisher=FCLTGlobal |date=2020-01-02 |access-date=2026-02-24}}</ref>


== Legacy ==
== Legacy ==


Adena Friedman's tenure at Nasdaq has coincided with and contributed to a fundamental shift in the nature of securities exchanges. Under her leadership, Nasdaq has evolved from an organization defined primarily by its role as a stock exchange into a global technology company that provides market infrastructure, data analytics, compliance solutions, and anti-financial crime technology to clients around the world.<ref name="ambanker" /><ref name="wsj-deals" />
Friedman's appointment as CEO of Nasdaq in 2017 marked a significant milestone in the financial industry. As the first woman to lead a major global exchange, her tenure has been closely watched as a measure of progress in gender representation at the highest levels of finance and corporate leadership.<ref name="bbc" /><ref name="nyt-ceo" />


Her appointment as the first woman to lead a major global exchange in 2017 represented a significant moment in the history of financial markets, an industry that has historically been male-dominated at its most senior levels.<ref name="nyt-ceo" /> Since that appointment, she has consistently been recognized as one of the most powerful women in global business and finance.
Under her leadership, Nasdaq has undergone a substantial transformation from a traditional exchange operator into a diversified financial technology company. The company's expansion into areas such as anti-financial crime technology, compliance software, data analytics, and artificial intelligence has reshaped its business model and revenue streams, reducing its dependence on transaction-based income tied to market volumes.<ref name="ambanker" /><ref name="wsj-dealmaking" />


Friedman's public commentary on topics ranging from the future of capitalism to the potential of artificial intelligence and blockchain technology has positioned her as one of the more prominent voices in discussions about the evolution of financial markets.<ref name="ted" /><ref name="semafor-ai" /><ref name="yahoo-blockchain" /> Her emphasis on technology as a driver of market modernization has been a defining theme of her leadership, reflecting broader trends in the financial industry toward digitization, automation, and data-driven decision-making.
Friedman's public advocacy on topics including the future of capitalism, the modernization of public markets, and the responsible adoption of AI in financial services has positioned her as a prominent voice in debates about the direction of the global financial system.<ref name="ted" /><ref name="economist" /><ref name="semafor-ai" /> Her engagement with regulators, including her public discussions with the SEC chairman about revitalizing the IPO market, reflects her broader influence on policy discussions affecting capital markets.<ref name="nasdaq-ipo" />


Her role on the board of the Federal Reserve Bank of New York and her advisory work with organizations such as FCLTGlobal indicate an engagement with financial policy and long-term investment thinking that extends beyond her corporate responsibilities at Nasdaq.<ref name="nyfed" /><ref name="fclt" />
Her career trajectory — from joining Nasdaq as a young professional in 1993, departing for a senior role at The Carlyle Group, and returning to ultimately lead the company as its CEO and Chair — represents one of the more notable executive careers in the modern financial services industry.


== References ==
== References ==
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Latest revision as of 07:31, 24 February 2026


Adena Friedman
BornAdena Robinson Testa
Template:Birth year and age
BirthplaceBaltimore, Maryland, United States
NationalityAmerican
OccupationChair and CEO of Nasdaq, Inc.
Known forFirst woman to lead a major global exchange
EducationWilliams College (BA); Vanderbilt University (MBA)
Children2
AwardsForbes Power Women list; Fortune Most Powerful Women list; American Banker Most Powerful Women in Finance
Website[https://www.nasdaq.com/about/our-people/adena-t.-friedman Official site]

Adena T. Friedman (born Adena Robinson Testa; 1969) is an American business executive who serves as the Chair and Chief Executive Officer of Nasdaq, Inc., the global technology company that operates the Nasdaq Stock Market and provides trading, clearing, exchange technology, listing, information, and public company services across six continents. Friedman made history in January 2017 when she was named CEO of Nasdaq, becoming the first woman to lead a major global exchange.[1] Before returning to Nasdaq in 2014, she served as a managing director and Chief Financial Officer of The Carlyle Group, one of the world's largest private equity firms.[2] Under her leadership, Nasdaq has expanded well beyond its origins as a stock exchange, diversifying into areas including compliance software, anti-financial crime technology, and artificial intelligence applications for capital markets.[3] Friedman has been recognized repeatedly on Forbes' annual Power Women list, ranking 45th in 2025,[4] and has appeared on Fortune's Most Powerful Women list. She has spoken publicly on topics including the future of capitalism, the modernization of public markets, and the role of technology and artificial intelligence in reshaping finance.

Early Life

Adena Robinson Testa was born in 1969 in Baltimore, Maryland.[5] She is the daughter of Adena W. Testa and Michael D. Testa. Friedman grew up in the Baltimore area and attended Alford Lake Camp in Maine during her youth, an experience she has cited as formative.[6]

Details about Friedman's childhood and family background beyond these facts are limited in publicly available sources. Her upbringing in Baltimore placed her in proximity to Washington, D.C., where she would later begin her career at Nasdaq's offices.

Education

Friedman attended Williams College, a private liberal arts college in Williamstown, Massachusetts, where she earned a Bachelor of Arts degree. She subsequently pursued graduate education at Vanderbilt University's Owen Graduate School of Management in Nashville, Tennessee, where she received a Master of Business Administration (MBA).[5] Her educational background in both liberal arts and business provided a foundation for the career she would build at the intersection of technology and capital markets.

Career

Early career at Nasdaq (1993–2011)

Friedman joined Nasdaq in 1993, beginning what would become a lengthy and consequential tenure at the organization.[7] Over the course of nearly two decades at the company, she rose through a series of increasingly senior positions. During this initial period at Nasdaq, Friedman held roles spanning the company's core businesses, gaining experience in the operational, financial, and strategic dimensions of running a global exchange and technology company.

By the time she departed Nasdaq in 2011, Friedman had established herself as one of the most senior executives in the organization and had developed deep expertise in exchange operations, market technology, and corporate strategy. Her departure to join The Carlyle Group marked a significant shift in her career trajectory, moving from the public markets infrastructure space into private equity.

The Carlyle Group (2011–2014)

After leaving Nasdaq, Friedman joined The Carlyle Group, one of the world's largest alternative asset management firms, where she served as a managing director and Chief Financial Officer.[2] At Carlyle, Friedman was responsible for overseeing the firm's financial operations during a period of significant growth and transformation in the private equity industry.

Her time at Carlyle provided Friedman with a different vantage point on the financial services industry, exposing her to the world of private equity, alternative investments, and institutional asset management. The experience broadened her understanding of how institutional investors evaluate opportunities and allocate capital — knowledge that would prove valuable when she returned to lead Nasdaq.

Return to Nasdaq and appointment as President (2014)

In May 2014, Friedman returned to Nasdaq, joining the company as President of Global Corporate and Information Technology Solutions.[2] Her return was part of a broader leadership reshuffling at the company under then-CEO Robert Greifeld. In this role, Friedman oversaw key business lines that were central to Nasdaq's strategy of diversifying beyond its traditional exchange operations. The position placed her in charge of technology solutions that Nasdaq provided to other exchanges and market participants around the world, as well as the company's corporate services business, which included listing services and corporate governance solutions.

Friedman's return signaled that she was being positioned for a larger leadership role within the organization. Her combination of deep institutional knowledge of Nasdaq, gained during her nearly two decades at the company, and the external perspective she had developed at Carlyle made her a natural candidate for the top job.

CEO of Nasdaq (2017–present)

On November 14, 2016, Nasdaq announced that Friedman would succeed Robert Greifeld as Chief Executive Officer, effective January 1, 2017.[1] The appointment made her the first woman to lead a major global exchange, a milestone that attracted significant attention in the financial industry and beyond.[8]

In a February 2017 profile, The Wall Street Journal described the scope of the challenge facing Friedman, noting that she had "a big job: reimagining the stock exchange" in an era when the traditional exchange business model was being disrupted by technological change, regulatory shifts, and evolving market structures.[7] From the outset, Friedman signaled that she intended to continue and accelerate Nasdaq's transformation from a traditional stock exchange into a broader technology and analytics company serving the global financial system.

Strategic transformation and diversification

Under Friedman's leadership, Nasdaq has pursued an aggressive diversification strategy. The company has expanded into compliance software, anti-financial crime technology, and data analytics, moving well beyond its historical identity as a stock exchange operator.[3] According to American Banker, which ranked Friedman sixth on its 2025 list of the Most Powerful Women in Finance, she has also succeeded in attracting exchange business from rival NYSE.[3]

Friedman has pursued a series of acquisitions to execute this strategy. The Wall Street Journal noted in a profile that Friedman has pursued "a black belt in dealmaking," reflecting the pace and ambition of her acquisition strategy.[9] These deals have been aimed at building out Nasdaq's capabilities in financial technology, data services, and regulatory compliance — areas that generate recurring revenue and are less dependent on market volatility than traditional exchange trading fees.

Artificial intelligence and technology

Friedman has been a prominent voice on the application of artificial intelligence in financial services. In January 2026, she spoke at the World Economic Forum in Davos, Switzerland, discussing AI transformation and regulatory reforms with Bloomberg.[10] In a separate interview with Semafor around the same time, Friedman discussed the challenges of funding and implementing AI in enterprises, describing the adoption of AI as "a massive change management exercise" and characterizing the broader effort as a "marathon" rather than a sprint.[11]

Friedman has positioned Nasdaq as a company that uses AI and machine learning across its operations, from market surveillance and fraud detection to data analytics and client services. This focus on technology has been central to Nasdaq's identity under her leadership and has been a key differentiator in the competitive landscape of exchange operators and financial technology providers.

Blockchain and market infrastructure

In addition to AI, Friedman has spoken about the potential of blockchain technology to reshape traditional financial infrastructure. In November 2025, she outlined three ways blockchain could improve the financial system: by overhauling post-trade processes, enhancing transparency, and improving the efficiency of settlement and clearing operations.[12] Her comments reflected Nasdaq's broader interest in exploring how emerging technologies can modernize market infrastructure.

Public markets advocacy and IPOs

As CEO and later Chair of Nasdaq, Friedman has been an advocate for the health and vitality of public capital markets. In December 2025, she hosted SEC Chairman Paul Atkins at Nasdaq for a public discussion on "how to make IPOs great again," focusing on ways to encourage companies to go public and to make the listing process more accessible.[13] The event coincided with a celebration of the 250th anniversary of the founding of the United States.

Friedman has spoken publicly about the forces reshaping global markets. In September 2025, she appeared at the All-In Summit, sharing her perspective on the evolving landscape of capital markets, technology, and regulation.[14]

Financial performance

In early 2026, Friedman discussed Nasdaq's fourth-quarter financial results in an appearance on CNBC's Squawk Box, stating that she saw "a lot of momentum going into 2026" and discussing the impact of AI on the company's business and operations.[15]

Thought leadership and public speaking

Beyond her corporate role, Friedman has engaged in public discourse on topics including the future of capitalism and the role of markets in society. She delivered a TED talk titled "What's the Future of Capitalism?" in which she discussed how capital markets and corporate governance can evolve to address contemporary challenges.[16] She also contributed an essay to The Economist's The World In 2020 edition, presenting ideas for modernizing capitalism.[17]

In March 2020, during the early stages of the COVID-19 pandemic, Friedman was featured in The New York Times' "Corner Office" column, where she discussed the challenges of leading a critical financial infrastructure company during a period of extreme market volatility and operational disruption.[18]

Personal Life

Friedman married Michael Friedman in August 1993, as reported in the wedding announcements of The New York Times.[5] The couple have two children.[19]

Friedman has maintained a connection to Alford Lake Camp in Maine, where she spent time during her youth. The camp has featured her on its website as a notable alumna.[6]

Recognition

Friedman has received numerous recognitions for her leadership in the financial industry. Forbes has included her on its annual Power Women list on multiple occasions. In 2023, she ranked 43rd on Forbes' list of the "World's 100 Most Powerful Women," and in 2025, she was listed at number 45.[4][20]

Fortune magazine has also recognized Friedman, ranking her 55th on its list of Most Powerful Women in 2023.

In October 2025, American Banker named Friedman number six on its list of the Most Powerful Women in Finance, noting her success in both growing Nasdaq's exchange business and diversifying into compliance software and anti-financial crime technology.[3]

Board memberships and advisory roles

Friedman has served on several boards and advisory bodies outside of Nasdaq. In November 2018, she was appointed to the board of directors of the Federal Reserve Bank of New York.[21]

In January 2020, she was appointed to the board of directors and as a strategic advisor for FCLTGlobal (Focusing Capital on the Long Term), an organization dedicated to encouraging long-term investing and corporate decision-making.[22]

Legacy

Friedman's appointment as CEO of Nasdaq in 2017 marked a significant milestone in the financial industry. As the first woman to lead a major global exchange, her tenure has been closely watched as a measure of progress in gender representation at the highest levels of finance and corporate leadership.[8][1]

Under her leadership, Nasdaq has undergone a substantial transformation from a traditional exchange operator into a diversified financial technology company. The company's expansion into areas such as anti-financial crime technology, compliance software, data analytics, and artificial intelligence has reshaped its business model and revenue streams, reducing its dependence on transaction-based income tied to market volumes.[3][9]

Friedman's public advocacy on topics including the future of capitalism, the modernization of public markets, and the responsible adoption of AI in financial services has positioned her as a prominent voice in debates about the direction of the global financial system.[16][17][11] Her engagement with regulators, including her public discussions with the SEC chairman about revitalizing the IPO market, reflects her broader influence on policy discussions affecting capital markets.[13]

Her career trajectory — from joining Nasdaq as a young professional in 1993, departing for a senior role at The Carlyle Group, and returning to ultimately lead the company as its CEO and Chair — represents one of the more notable executive careers in the modern financial services industry.

References

  1. ↑ 1.0 1.1 1.2 "Nasdaq Names a New Chief Executive, Adena Friedman".The New York Times.2016-11-14.https://www.nytimes.com/2016/11/15/business/dealbook/nasdaq-names-a-new-chief-executive-adena-f.html.Retrieved 2026-02-24.
  2. ↑ 2.0 2.1 2.2 "Nasdaq management changes".Reuters.2014-05-12.https://www.reuters.com/article/nasdaq-managementchanges-idUSL3N0NY1EU20140512.Retrieved 2026-02-24.
  3. ↑ 3.0 3.1 3.2 3.3 3.4 "2025 The Most Powerful Women in Finance, No. 6, Adena Friedman, Nasdaq".American Banker.2025-10-01.https://www.americanbanker.com/news/2025-the-most-powerful-women-in-finance-no-6-adena-friedman-nasdaq.Retrieved 2026-02-24.
  4. ↑ 4.0 4.1 "Adena Friedman".Forbes.2025-12-10.https://www.forbes.com/profile/adena-friedman/.Retrieved 2026-02-24.
  5. ↑ 5.0 5.1 5.2 "Weddings; Adena R. Testa, Michael Friedman".The New York Times.1993-08-22.https://www.nytimes.com/1993/08/22/style/weddings-adena-r-testa-michael-friedman.html.Retrieved 2026-02-24.
  6. ↑ 6.0 6.1 "Adena Friedman".Alford Lake Camp.https://web.archive.org/web/20161115140318/http://www.alfordlakecamp.com/friedman.Retrieved 2026-02-24.
  7. ↑ 7.0 7.1 "Nasdaq's New CEO Adena Friedman Has a Big Job: Reimagining the Stock Exchange".The Wall Street Journal.2017-02-03.https://www.wsj.com/articles/nasdaqs-new-ceo-adena-friedman-has-a-big-job-reimagining-the-stock-exchange-1486117802.Retrieved 2026-02-24.
  8. ↑ 8.0 8.1 "Adena Friedman".BBC News.2019-05-09.https://www.bbc.com/news/business-48205206.Retrieved 2026-02-24.
  9. ↑ 9.0 9.1 "Nasdaq CEO Adena Friedman Pursues a Black Belt in Dealmaking".The Wall Street Journal.https://www.wsj.com/articles/nasdaq-ceo-adena-friedman-pursues-a-black-belt-in-dealmaking-ddf6df69.Retrieved 2026-02-24.
  10. ↑ "Watch Nasdaq CEO Adena Friedman on AI Transformation, Reforms".Bloomberg.com.2026-01-22.https://www.bloomberg.com/news/videos/2026-01-22/nasdaq-ceo-adena-friedman-on-ai-transformation-reforms-video.Retrieved 2026-02-24.
  11. ↑ 11.0 11.1 "Nasdaq's Adena Friedman on funding the AI 'marathon'".Semafor.2026-01-22.https://www.semafor.com/article/01/22/2026/nasdaqs-adena-friedman-on-funding-the-ai-marathon.Retrieved 2026-02-24.
  12. ↑ "Nasdaq CEO Adena Friedman Outlines 3 Ways Blockchain Can Fix Finance".Yahoo Finance.2025-11-04.https://sg.finance.yahoo.com/news/nasdaq-ceo-adena-friedman-outlines-172604699.html.Retrieved 2026-02-24.
  13. ↑ 13.0 13.1 "Nasdaq Chair and CEO Adena Friedman and SEC Chairman Paul S. Atkins Discuss How to Make IPOs Great Again".Nasdaq.2025-12-03.https://www.nasdaq.com/newsroom/nasdaq-chair-and-ceo-adena-friedman-and-sec-chairman-paul-s-atkins-discuss-how-make-ipos.Retrieved 2026-02-24.
  14. ↑ "Nasdaq Chair and CEO Adena Friedman: How Markets are Rapidly Evolving".Nasdaq.2025-09-18.https://www.nasdaq.com/articles/nasdaq-chair-and-ceo-adena-friedman-how-markets-are-rapidly-evolving.Retrieved 2026-02-24.
  15. ↑ "Nasdaq CEO Adena Friedman on Q4 results: See a lot of momentum going into 2026".MSN.2026-02.https://www.msn.com/en-us/money/companies/nasdaq-ceo-adena-friedman-on-q4-results-see-a-lot-of-momentum-going-into-2026/vi-AA1VffCp?ocid=finance-verthp-feeds.Retrieved 2026-02-24.
  16. ↑ 16.0 16.1 "Adena Friedman: What's the future of capitalism?".TED.https://www.ted.com/talks/adena_friedman_what_s_the_future_of_capitalism.Retrieved 2026-02-24.
  17. ↑ 17.0 17.1 "Ideas for modernising capitalism".The Economist.2020.https://worldin.economist.com/edition/2020/article/17512/ideas-modernising-capitalism.Retrieved 2026-02-24.
  18. ↑ "Corner Office: Coronavirus".The New York Times.2020-03-23.https://www.nytimes.com/2020/03/23/business/corner-office-coronavirus.html.Retrieved 2026-02-24.
  19. ↑ "Adena T. Friedman".Nasdaq.https://www.nasdaq.com/about/our-people/adena-t.-friedman.Retrieved 2026-02-24.
  20. ↑ "Power Women".Forbes.https://www.forbes.com/lists/power-women/.Retrieved 2026-02-24.
  21. ↑ "New York Fed Announces Board of Directors Appointments".Federal Reserve Bank of New York.2018-11-27.https://www.newyorkfed.org/newsevents/news/aboutthefed/2018/oa181127b.Retrieved 2026-02-24.
  22. ↑ "FCLTGlobal Appoints New Board Directors and Strategic Advisors".FCLTGlobal.2020-01-02.https://web.archive.org/web/20200321225855/https://www.fcltglobal.org/news/blog/article/2020/01/02/fcltglobal-appoints-new-board-directors-and-strategic-advisors.Retrieved 2026-02-24.

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