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Nasdaq vice chairmen to retire at year-end

Nasdaq Inc. vice chairmen Meyer Frucher and Bruce Aust are retiring at the end of the year.

Frucher is winding up 11 years in the post to become the financial exchange's strategic adviser, effective Jan. 1, 2020, according to a release.

Aust is retiring after 21 years in the company, including a 2003 to 2014 stint as executive vice president of global listings.

Frucher became vice chairman in 2008 when the New York-based bourse acquired the Philadelphia Stock Exchange, where he was chairman and CEO. Since then, Frucher has been responsible for Nasdaq's global exchange relationships and advising the senior management team on industry and regulatory issues, particularly on sustainability.

Aust established the Nasdaq Private Market in 2013 to serve as a liquidity platform for emerging growth companies. The market facilitated $23 billion in secondary transactions for 305 companies since it opened.