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Salvatore F. Sodano
Dean of the Frank Zarb School of Business Hofstra University Salvatore F. Sodano is the Dean of the Frank G. Zarb School of Business at Hofstra University, a dual AACSB accredited school. Prior to being named Dean in June 2006, Mr. Sodano served as an executive-in-residence at Hofstra University and taught Study of Human Relations in Business Organizations. He continues as a member of the faculty at the Zarb School. Mr. Sodano served as Chairman of Hofstra University's Board of Trustees for the maximum three one-year terms through October 2005. He first joined the Hofstra Board in 2001. Mr. Sodano is also a member of the Business Advisory Board of The Merrill Lynch Center for the Study of International Financial Services and Markets. Mr. Sodano was instrumental in obtaining membership for the Zarb School of Business into the highly prestigious and competitive New York State Society of Security Analysts beginning in 2009. He established the Zarb School of Business' first full-time day M.B.A. program which will begin in fall 2008. Princeton Review, in its 2008 edition of the Best Business Schools, rated the Zarb graduate program among the best in the world. In 2007, Mr. Sodano was selected by Long Island Business News as "Who's Who in Education." During his tenure, the Zarb School has raised a significant amount of money for student scholarships and to support the needs of the Zarb School of Business. In addition, during Mr. Sodano's tenure, the Zarb School has established a $1.5 million Endowed Chair in Chinese Business and Culture Studies, an Endowed Distinguished Professorship honoring Robert Brockway in the Marketing and International Business Department, exchange programs for Zarb School of Business students with Erasmus University and the University of Amsterdam, and study abroad programs at the University of International Business and Economics in Beijing, China, and the National University of Ireland (Galway). The American Stock Exchange For more than six years, Salvatore F. Sodano, as chairman and chief executive officer, led the American Stock Exchange (Amex) through some of the most tumultuous times in global capital markets history, ultimately creating a revitalized institution with a strong focus on rebirth, innovation and product development. He directed the complete overhaul of Amex infrastructure, developing new products, rebranding the 100+ year old institution and establishing new relationships with key constituencies. While serving as chief operating officer and chief financial officer of the NASD, Mr. Sodano was asked by then NASD chairman Frank Zarb to also assume the position of acting president of the Amex, directing the integration of certain elements of the exchange into the NASD's Nasdaq Stock Market and most important, filling the serious leadership void then existing at the Amex. Six months after this March 1999 appointment as acting president, he was elected Amex chairman and chief executive officer. Recovery and Regrowth Following the events of September 11, Mr. Sodano personally led the return to the Amex's damaged facility, directing its repair and operation. On October 1, the Amex returned to its home in the restricted Ground Zero zone, continuing to operate as the only occupied building in that physically and emotionally difficult environment for four months. Mr. Sodano's leadership during that stressful time - in concert with the leadership of the New York Stock Exchange and The Nasdaq Stock Market - moved not only the Amex , but also the U.S. capital markets, to recover quickly. Mr. Sodano also managed the exchange's response to increased corporate governance issues for publicly listed companies, Sarbanes-Oxley implementation and a host of regulatory reforms which Mr. Sodano adeptly managed on behalf of his membership and listed companies. Additionally, recognizing the importance of the increasing globalization of investment, he developed working relationships with many of Europe's and the Far East's leading exchanges, including Amsterdam, Singapore and Tokyo, to trade and develop the Amex's Exchange Traded Funds (ETFs). For his contributions to the Amex, Mr. Sodano was recognized by the Amex 5&20 Club, an Amex membership organization, as its 2001 Man of the Year, marking the first time in Amex history that a non-member received this honor. Similarly, he was recognized by the prestigious 100 Black Men Investors Club with their "Performance Award" for his "leadership, courage, kindness and unselfish character to enhance diversity in the face of adversity." Upon retiring from the Amex in April 2005, Mr. Sodano's achievements included the development of three strong core businesses for the Amex: equities, which benefit from an auction market; exchange traded funds, which enable investors to manage risk more effectively in unpredictable times; and options. During his tenure, the Amex's closed-end fund and structured products businesses also grew into market leadership positions. Prior Experience Mr. Sodano joined the NASD in 1997 as executive vice president and chief financial officer. Mr. Sodano progressed rapidly at the NASD, holding increasingly responsible senior positions before being elected vice chairman in 2000, a position he held until December 2004. He served as a member of the NASD Board of Governors from 1999 to 2004. At the NASD he successfully implemented new budget and internal reporting processes resulting in improved control and reduction in annual operating costs. Reinvesting for the future and enterprise review projects reduced annual operating costs by $100 million. Mr. Sodano also served as chairman and president of Securities Dealers Insurance Company, Ltd., a wholly-owned fidelity bond insurance subsidiary of the NASD from 1997 to 2004, and as a member of the board of directors of the Securities Industry Automation Corporation (SIAC) from 1999 to 2002. Mr. Sodano was a key executive at Westpac Banking Corporation, Australia's third largest bank, from 1990 to 1997. At the time of his departure to join the NASD, he was Principal Operating Officer of the Americas Division, a multi-branch, multi-subsidiary $5 billion wholesale banking operation of the $100 billion global bank. Earlier in his career, Mr. Sodano held increasingly responsible positions at Bankers Trust Company, before becoming vice president and group head, managing its worldwide functional controllership network and corporate accounting policy activities. He also held positions with Price Waterhouse and Co. and Morgan Guaranty International Finance Corporation. Professional Achievements Recognized globally for his efforts and contributions, Mr. Sodano was appointed by the Mayor of Beijing to serve on the Chinese Economic Zone Advisory Board for Zhongguancun Science Park, China's premier high tech development zone. He was also appointed to the FTSE/Xinhua Index Committee, which oversees the FTSE/Xinhua China series of domestic indexes for Mainland China. In 1999, Mr. Sodano was awarded the NASD Chairman's Award by Frank Zarb for outstanding performance and leadership. He received the prestigious Ellis Island Medal of Honor in 2000, the Coalition of Italo-American Associations, Inc. Leadership in Finance and Investments Award in 2001, and the National Italian American Foundation's Special Achievement in Business Award in 2003. Widely respected for his business perspectives, Mr. Sodano has been a frequent guest on CNBC, CNN and the Fox News Channel, and is often quoted in publications such as The Wall Street Journal, The New York Times and Financial Times. Speaking regularly, often as a keynoter at leadership forums, his appearances have ranged from the National Press Club in Washington D.C. to the World New Economy Forum of the Beijing High-Tech Week Summit at China's Great Hall of People. Community Leadership Hofstra University acknowledged Mr. Sodano's professional achievement with its Alumni Achievement Award in 2000. In addition, Beta Alpha Psi, a national academic fraternity, selected him for its Outstanding Alumnus Award in 2002, and in 2007, Mr. Sodano was inducted into the Beta Gamma Sigma Honor Society, the national honor society of collegiate business schools. St. Vincent's Services honored Mr. Sodano with the Fred and Nancy De Matteis Award in 2001, citing his dedication to the agency's work in caring for needy and vulnerable children, and the Diocese of Brooklyn/Queens Futures in Education Foundation honored Mr. Sodano in 2003 for his commitment and support of needy students in Brooklyn and Queens Catholic schools. He is on the Board of Directors and is a member of the Finance & Development Committee of Tomorrow's Hope Foundation, whose mission is to promote Catholic elementary school education. Mr. Sodano also serves as Chair of the Honoree Selection Committee for Tomorrow's Hope Foundation. In December 2007, Mr. Sodano became a member and was elected Treasurer of Catholic Health Services of Long Island, Eastern Division, which oversees Good Samaritan Hospital Medical Center, St. Charles Hospital and St. Catherine of Siena Medical Center. Mr. Sodano serves as Treasurer for each hospital and is a member of the Executive Committee of each hospital. He also serves as a member of the Regional Executive Committee, Regional Finance Committee and Regional Performance Improvement Committee of Good Samaritan Hospital Medical Center, St. Charles Hospital and St. Catherine of Siena Medical Center. Mr. Sodano served as a member of Good Samaritan Hospital Medical Center's board of trustees, as a member of the Executive Committee and as Chairman of the board's Finance Committee from December 2006 to December 2007. He previously served as an advisor to the Finance Committee. Mr. Sodano served as Treasurer of Good Samaritan Hospital Medical Center from January to December 2007. Good Samaritan Hospital Medical Center is Suffolk County's largest emergency care hospital. Mr. Sodano was a member of a special three-person oversight committee to evaluate Catholic Health Services of Long Island, one of the largest hospital and healthcare networks in New York. In 2006, Mr. Sodano was honored by The Columbia Association of U.S. Customs and Affiliated Federal Agencies, and he was also installed as an associate member of the American Society of the Italian Legions of Merit. In 2004, Mr. Sodano received the Monsignor Thomas J. Hartman Award ("The Tommy") for business leadership from Telecare, the television network of the Diocese of Rockville Centre. Mr. Sodano served as a member of the Financial Services Firms Advisory Council of the Lower Manhattan Development Corporation and is a member of The Economic Club of New York. Personal Recognition In 2001, Mr. Sodano was invested as a Knight of the Sacred Military Constantinian Order of St. George, Royal House of Burbon and in 2003, as a Knight of the Sovereign Military Order of Malta. Education Mr. Sodano received a bachelor's degree in accounting and economics and a master's degree in finance and investments from Hofstra University. |
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