Thoma Bravo's Behind the Deal Beyond the Nasdaq Partnership with Holden Spaht and Adena Friedman
Feb 8, 2024
Adena Friedman, Chair and CEO of Nasdaq with a multi-decade career transforming the exchange into a global market and tech operator. She recounts starting as an intern and the career moves that shaped her leadership. They explore Nasdaq’s evolution into a scale technology provider and a whimsical four-leaf clover tradition that connects people.
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First Day Internship That Taught Market Tech
- Adena Friedman began at NASDAQ in June 1993 as a business school grad intern writing product plans for trading products.
- She learned markets, technology, and built relationships by tackling esoteric product plans and embedding in teams.
Private Equity Stint That Reshaped Leadership
- Adena left NASDAQ to join The Carlyle Group as CFO, ran a successful IPO, then returned to NASDAQ when recruited to be president.
- The stint exposed her to a collaborative partnership culture that reshaped her leadership into a 'collaborative command' style.
Use Collaborative Command For Faster Alignment
- Adopt a 'collaborative command' leadership approach: solicit opinions broadly, then align and execute decisively.
- Encourage debate and collective input, then have everyone 'march down the road together' after decisions are made.