Marshall Carter to head NYSE board
New York: The former chairman and chief executive officer of Boston investment firm State Street Corporation, Marshall N Carter, was elected chairman of the New York Stock Exchange's board of directors.

Carter had been the front-runner to succeed John Reed, the former co-CEO of Citigroup Inc.Reed took over the chairmanship in 2003 after former chairman and CEO Richard A Grasso resigned amid controversy over his pay package.

"It's a great privilege to chair the board of the world's leading equities market," Carter said in a statement yesterday.

A decorated Marine officer wounded in combat in Vietnam, Carter, 64, also has been a White House Fellow and headed a government task force dealing with global securities.

He takes over at a time when the Securities and Exchange Commission prepares to implement new stock-trading regulations approved this week.
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