NEW YORK, May 19, 2006 –  Dean Stephen J. Friedman has been named the second of two candidates for the NYSE Regulation Board selected by the Director Candidate Recommendation Committee (DCRC), which represents NYSE Member Organizations and other constituents of New York Stock Exchange LLC (NYSE LLC)

Dean Friedman joins five other candidates, who have been cleared by the relevant NYSE Nominating & Governance Committees for service on the boards of NYSE LLC, NYSE Market, and NYSE Regulation.  This is part of a process established to ensure that the Member Organizations of NYSE LLC have “fair representation” on the boards of each of these NYSE Group, Inc. entities. Each of these boards must have a minimum of twenty percent and no fewer than two “Fair Representation” Directors.

William B. Summers, Jr., Vice Chairman of McDonald Investments, chaired the DCRC, which identified, discussed and selected the candidates for the NYSE LLC Board, NYSE Regulation Board, and NYSE Market Board.  After screening candidates for conflicts and qualifications, two candidates for each of the NYSE LLC and NYSE Market Board were submitted to the NYSE Group Nominating & Governance Committee, and two candidates for the NYSE Regulation Board were submitted to the NYSE Regulation Nominating & Governance Committee.  All candidates were found to meet independence standards and other qualifications to serve. 

BIOGRAPHICAL PROFILE – Stephen J. Friedman

Prior to his appointment as dean,  Friedman was a senior partner at Debevoise & Plimpton LLP, where he served as co-chairman of the firm’s corporate department from 1993 to 2000.  Before he rejoined Debevoise in September 1993, Dean Friedman was executive vice president and general counsel of The Equitable Companies Incorporated and its subsidiary, The Equitable Life Assurance Society of the United States.  Before joining Equitable in 1988, Dean Friedman was executive vice president of the E.F. Hutton Group Inc. (1986-88) and a partner at Debevoise.

Dean Friedman also has served as a commissioner of the Securities and Exchange Commission (1980-81), deputy assistant secretary of the Treasury for Capital Markets Policy (1978-79), special assistant to the U.S. Maritime Administrator (1964-65), and law clerk to Justice William J. Brennan Jr. of the United States Supreme Court (1963-64).

Dean Friedman is chairman emeritus of American Ballet Theatre.  He also serves as chairman of the executive committee and a trustee of the Practising Law Institute, trustee of the Asian University for Women Support Foundation, and he is a member of the Council on Foreign Relations.  In addition, Dean Friedman has served as chairman of the Overseas Development Council and chairman of the Securities Regulation Committee of the Association of the Bar of the City of New York and as a member of the ABA Special Committee on Lawyers’ Political Contributions.  He joined the board of Refco in February 2006 after the company had filed for bankruptcy.  He has served as a board member of CCL Industries Inc., Donaldson, Lufkin & Jenrette, ConRail, The National Association of Securities Dealers, the Chicago Board Options Exchange, and United Way of New York City.

Dean Friedman received his AB magna cum laude in 1959 from the Woodrow Wilson School of Public and International Affairs at Princeton University, and his JD magna cum laude in 1962 from Harvard Law School, where he was an editor of the Harvard Law Review and a recipient of the Sears Prize.

Founded in 1976, Pace University School of Law has nearly 5,000 alumni/ae throughout the country. It offers full- and part-time day and evening JD programs on its White Plains, N.Y., campus. The School also offers the Master of Laws in Environmental Law and in Comparative Legal Studies. The School, which has one of the nation's top-rated environmental law programs, also offers the SJD program in that field. The School of Law is part of a comprehensive, independent and diversified University with campuses in New York City and Westchester County. www.law.pace.edu 

Pace is a comprehensive, independent university with campuses in New York City, Pleasantville and White Plains, N.Y., and a Hudson Valley Center at Stewart International Airport in New Windsor, N.Y. More than 14,000 students are enrolled in undergraduate, graduate and professional degree programs in the Dyson College of Arts and Sciences, Lubin School of Business, School of Computer Science and Information Systems, School of Education, Lienhard School of Nursing and Pace Law School. www.pace.edu