Tom Callahan, CEO of NPM: Unlocking Liquidity in Private Markets

My guest today is Tom Callahan, the CEO and Manager of the board of managers of Nasdaq Private Market (NPM), a secondary market trading venue for issuers, brokers, shareholders, and prospective investors of private company stock. In 2021, NPM was spun-off of Nasdaq to become its own, independent company receiving strategic investments from coalition of banks. In our conversation, we discuss his experiences on Wall Street during the 1990s, the impact of the JOBS Act on private markets, and the challenges private companies face regarding governance and liquidity. Tom highlights how NPM is improving data accessibility and efficiency, while also addressing the balance between fostering innovation and ensuring transparency. The conversation concludes with Tom reflecting on the future of private company secondary markets. If you like this show, please consider subscribing, leaving a review, or sharing this podcast on social media. You can also contribute by subscribing to the Boardroom Governance Newsletter at evanepstein.substack.com This podcast is sponsored by the American College of Governance Counsel.