Richard A. "Dick" Grasso is a notable American businessman best known for his role as the chairman and CEO of the New York Stock Exchange (NYSE). His tenure at NYSE was marked by significant developments and controversies.
Born on July 26, 1946, in Jackson Heights, Queens, New York, Dick Grasso grew up in a modest household. He attended Newtown High School and later served in the United States Army before beginning his career in finance.
Grasso is married to Lorraine Grasso and they have two children. He has largely kept his personal life private, focusing public attention on his professional endeavors and philanthropic activities.
Grasso started his career at the NYSE in 1968, working his way up through various positions. He became the chairman and CEO in 1995, a role he held until his resignation in 2003. His leadership saw the modernization of the NYSE but was also marred by compensation-related controversies.
Grasso's notable achievements include the expansion of NYSE's electronic trading capabilities, the implementation of new regulatory measures, and the significant growth of the exchange's market capitalization during his tenure.
Grasso's resignation from the NYSE was largely due to controversies surrounding his compensation package, which was revealed to be worth nearly $140 million. This led to significant public and legal scrutiny, including a lawsuit from the New York Attorney General.
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