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NAME AND TITLE: Rachel F. Robbins, executive vice president and general counsel AGE: 56 VENERABLE INSTITUTION: The NYSE Group Inc. is the latest corporate incarnation of the New York Stock Exchange (NYSE), which has been a cornerstone of American business since it was founded in 1792 under the shade of a buttonwood tree on Wall Street by 24 New York City stockbrokers and merchants. The first company listed for trading was Alexander Hamilton’s Bank of New York. Stock in Consolidated Edison Inc. has been traded every business day since the utility listed as the New York Gas Light Co. in 1824. Today the NYSE lists nearly 2,700 companies. The exchange became a for-profit, publicly held corporation last March, and the pace of change has been swift. The classic trading-floor throng of shouting brokers has given way to a hybrid system heavy on electronic trading, facilitated by a merger with the all-electronic exchange Archipelago Holdings Inc. Among its new products, the NYSE offers exchange-traded funds; Open Book, which allows traders access to real-time buy-and-sell order information; stock options; and fixed income products. The broader market seems pleased with the results: NYSE stock has more than doubled in value, from $48 per share when it went public to more than $100 in recent trading. LEGAL TEAM: Robbins oversees a staff of 70 people, of whom about 30 are lawyers. Compliance with securities laws and regulations is a major focus. “The [U.S. Securities and Exchange Commission] regulatory relationship is a big part of our lives here,” she said. Within the department are attorneys specializing in litigation, contracts, the exchange’s listing and market data businesses and governance, as well as in writing rules for the trading market. Several attorneys are assigned to internal audits. The legal department and the rest of the NYSE are in flux while adapting to being a publicly traded corporation. “The stock NYSE Group is a new public company, so we are still refining our policies and procedures,” Robbins said. “We are changing what we do to conform to what you need to do to function as a public company.” OUTSIDE COUNSEL: Wachtell, Lipton, Rosen & Katz of New York advises on mergers and acquisitions. New York’s Proskauer Rose handles labor issues. Chicago-based Winston & Strawn is on board for litigation, as are New York firms Fried, Frank, Harris, Shriver & Jacobson; and Milbank, Tweed, Hadley & McCloy. The latter also advises the exchange on real estate and miscellaneous corporate matters. The exchange retains Sullivan & Cromwell of New York for securities disclosure. Baker Botts of Houston handles trademark issues. DAILY DUTIES: Although she is general counsel, Robbins has broader duties than running the legal department. They include counseling Chief Executive Officer John Thain “on a range of issues, not just legal issues,” she said. At the top of her agenda at present is the pending acquisition of Euronext N.V., the largest European stock exchange, for some $10 billion. “Integrating Euronext with the NYSE will be a big management challenge for all of us in 2007,” Robbins said. “Dealing with all the regulators here and there, trying to achieve the benefits that this merger offers while being in compliance with all the legal requirements, is going to be a big focus.” The Euronext deal is certain to be just the first step in the globalization of equities trading, Robbins said. That is why she took the general counsel job at NYSE. “You are going to see regional consolidation, cross-border mergers and alliances,” she said. “What’s exciting is that the New York Stock Exchange is leading the global consolidation that is taking place in this industry. The pace of change and the challenges are what attracted me to the job.” The NYSE strategy for growth reflects a historic change taking place as stock exchanges based in individual countries adapt to an evolving global market, Robbins said. “You will also see other investments or alliances in the industry as we go forward,” she said. “Some will be information-sharing, some will be investments in the shares of different exchanges, some will be alliances working together to harmonize rules or technology. The goal, within the limits of local laws, is to provide a seamless opportunity for investors across the globe and to assist issuers in the capital-raising process.” ROUTE TO PRESENT POSITION: Robbins earned her bachelor’s degree in French literature from Wellesley College in 1972 and studied law at New York University, graduating in 1976. She began her career as an associate at the New York office of Milbank, Tweed, Hadley & McCloy. In 1981, she moved in-house at J.P. Morgan & Co. Robbins was named general counsel and corporate secretary at Morgan in 1996. She left Morgan in 2001 and became a founding partner at Blaqwell Inc., an international consulting firm working with law firms and corporate legal departments. Robbins was general counsel of Citigroup International in 2003 and 2004, and subsequently worked with Citigroup as a consultant on international issues. She also worked as a strategic adviser at Axiom Legal Solutions, while focusing on nonprofit activities. She took her current position at NYSE in November 2006. PERSONAL: Robbins has two grown sons and a daughter-in law. “I like to spend my time with them,” she said. She keeps in shape with yoga and Pilates. Robbins is a big fan of the theater. “Traveling to developing countries-India, Thailand, Cambodia, Argentina-is probably my most favorite thing to do,” Robbins said. She is generous with her time as a volunteer, serving as chairwoman of the New York Regional Board of the Anti-Defamation League and on the boards of the New York University School of Law and of Ishmael and Isaac, an organization that brings together Jews and Arabs in the United States to work on humanitarian projects in Israel and the Palestinian territories. Robbins serves on the advisory board of Legal Momentum, a nonprofit that advances the rights of women and girls through legal and public policy advocacy. LAST BOOK AND MOVIE: Fiasco: The American Military Adventure in Iraq, by Thomas Ricks-”So depressing to see how many mistakes we made,” she said-and Blood Diamond, “a very disturbing but powerful movie.”

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