Word: haack
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Dates: during 1960-1969
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...successor to New York Stock Exchange President Keith Funston took a full seven months. This week, unless there is a last-minute change of mind, the Big Board will announce that it has found the man for the $125,000-a-year post. He is Robert W. Haack, 50, who as head of the National Association of Securities Dealers has been policeman of the nation's over-the-counter securities market for the past three years...
...Haack's elevation, which is expected to be formally approved by the exchange's 33-man board of governors in May, will come none too soon. Because of Funston's lame-duck status, the Big Board has been more or less marking time in its imminent showdown with the Securities and Exchange Commission, which wants some basic reforms in brokerage commission practices-notably, the elimination of "give-ups," by which brokers doing business on behalf of mutual funds split their commissions. In fact, one reason for the difficulty in selecting a new president was the resistance...