Nasdaq (NASDAQ: NDAQ) has recently announced a new leadership structure for its financial crime management technology business, Nasdaq Verafin, and the appointment of Stephanie Champion as the new Executive Vice President (EVP) and Head of Nasdaq Verafin. This move comes as Brendan Brothers, the current EVP and Head of Financial Crime Management Technology, and Verafin co-founder, transitions into a senior strategic advisory role until at least December 31, 2024.
Stephanie Champion, a 13-year Nasdaq Verafin veteran, brings a wealth of experience and expertise to her new role, having held several key leadership positions within the company, including as the head of the mid-market and enterprise business units. Notably, Champion was responsible for the strategy supporting Nasdaq Verafin’s growth in the upmarket client segment, resulting in the signing of four tier-1 and four tier-2 bank clients in under 18 months.
Under Champion's leadership, Nasdaq Verafin has experienced consistent, strong revenue growth over the past several years, attracting banks of all sizes to its modern technology solutions aimed at supporting their efforts in combatting financial crime.
Jeremy Skule, EVP and Nasdaq Chief Strategy Officer, will take on an expanded role as the Executive Chair of Financial Crime Management Technology. In this capacity, Skule will support the development of Nasdaq Verafin’s strategic roadmap, provide guidance to the leadership team, and advance its integration and cross-sell objectives.
Nasdaq Verafin, the global leader in financial crime management technology, provides fraud prevention and anti-money laundering solutions to more than 2,500 banks representing over $9 trillion in collective assets. This positions the company uniquely to address the $3 trillion global challenge of financial crime.
Adena T. Friedman, Chair and Chief Executive Officer of Nasdaq, expressed confidence in the new leadership appointments, highlighting Stephanie Champion’s deep expertise and client relationships developed over her tenure, as well as Jeremy Skule's track record of strategic leadership and business expansion at Nasdaq.
Stephanie Champion expressed her enthusiasm in taking on the leadership role at Nasdaq Verafin during this pivotal and exciting time, emphasizing the company's sustained, scalable growth across the global market of financial institutions. Jeremy Skule echoed this sentiment, stating his excitement in taking on the expanded role and continuing to work with the Nasdaq Verafin team to advance solutions aimed at eradicating financial crime from financial networks.
These leadership changes and appointments come as Nasdaq continues to drive growth and expand its presence in the financial crime management technology sector, leveraging its position as a leading global technology company serving various entities within the capital markets and the broader financial system.
The transition in leadership and the new structure at Nasdaq Verafin indicate a strategic shift aimed at furthering the company's growth trajectory and solidifying its position as a leader in financial crime management technology. The market has reacted to these announcements by moving the company's shares -2.0% to a price of $71.95. If you want to know more, read the company's complete 8-K report here.
