Nasdaq Announces New Leadership for Financial Crime Management Technology

Nasdaq (NASDAQ: NDAQ) 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. The move comes as Brendan Brothers, currently executive vice president and head of financial crime management technology and co-founder of Verafin, transitions to a senior strategic advisor role through at least December 31, 2024.

Stephanie Champion, a 13-year veteran of Nasdaq Verafin, brings a wealth of experience and expertise to her new role, having held several key leadership positions within the firm, including Head of the Mid-Market and Large Market business units. Notably, Champion led the strategy to support Nasdaq Verafin’s growth in the high-end client segment, resulting in the signing of four Tier 1 and four Tier 2 bank clients in 18 months.

Under Champion’s leadership, Nasdaq Verafin has achieved consistent, strong revenue growth over the past few years, attracting banks of all sizes to its cutting-edge technology solutions to support their efforts to combat financial crime.

Jeremy Skule, EVP and Nasdaq Chief Strategy Officer, will assume an expanded role as Executive Chair of Financial Crime Management Technology. In this role, Skule will support the development of Nasdaq Verafin’s strategic roadmap, provide guidance to the leadership team, and promote integration and cross-selling objectives.

Nasdaq Verafin, a global leader in financial crime management technology, provides fraud and anti-money laundering solutions to more than 2,500 banks representing more than $9 trillion in combined assets, uniquely positioning the company to address the $3 trillion global financial crime challenge.

Adena T. Friedman, Chairman and CEO of Nasdaq, expressed confidence in the new executive appointments, highlighting Stephanie Champion’s deep expertise and the client relationships she has developed during her tenure, as well as Jeremy Skule’s track record of strategic leadership and business expansion at Nasdaq.

Stephanie Champion expressed her enthusiasm for taking on the leadership role at Nasdaq Verafin at this transformative and exciting time, highlighting the company’s continued, scalable growth in the global financial institutions market. Jeremy Skule echoed this sentiment, stating that he is excited to take on the expanded role and continue to work with the Nasdaq Verafin team to develop solutions to eliminate financial crime from financial networks.

The leadership changes and appointments come against the backdrop of Nasdaq continuing to grow and expand its presence in the financial crime management technology sector, building on its position as a leading global technology company serving a variety of entities in the capital markets and broader financial system.

The management change and new structure at Nasdaq Verafin indicate a strategic shift to further accelerate the company’s growth trajectory and solidify its leadership position in financial crime management technology. The market reacted to these announcements, moving the company’s shares -2.0% to $71.95. For more information, read the company’s full 8-K here.

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