Financial History Issue 116 (Winter 2016) - Page 8

THE TICKER  MUSEUM NEWS Museum Honors Charles Schwab and Robert Rubin at 2016 Gala MAR 9 2000 1 2 3 The Nasdaq Composite Index closes above 5000 for the first time, finishing the day at 5046.86, up 149.60 — a mere 48 trading days after breaking the 4000 barrier. 6    FINANCIAL HISTORY  |  Winter 2016  | www.MoAF.org Photos: Elsa Ruiz More than 430 people attended the Museum’s 2016 Gala on January 12, which honored the achievements of two financial leaders in both the public and private sectors. The event began with cocktails at the Museum, giving guests the opportunity to view the new gold exhibit, and then continued with dinner at Cipriani Wall Street. At the 2016 Gala, the Museum inaugurated the Financial Innovation Award, which recognizes individuals who have introduced new markets or new financial instruments to the US financial system. The first honoree for this Award was Charles R. “Chuck” Schwab, founder and chairman of The Charles Schwab Corporation. Often credited with “democratizing” investment, Mr. Schwab has driven countless innovations in the investment services industry designed to help individuals make the most of saving and investing. Mr. Schwab was introduced by his long-time friend and colleague George Roberts, co-founder of Kohlberg Kravis Roberts (KKR). Robert E. Rubin was also honored as the eighth recipient of the Whitehead Award for Distinguished Public Service and Financial Leadership. Named after John C. Whitehead, former Deputy Secretary of State and co-chair of Goldman Sachs, the Whitehead Award recognizes leaders who have both demonstrated great achievement in the field of finance and served with distinction in the public sphere. Mr. Rubin spent 26 years at Goldman Sachs, ultimately as co-senior partner, before joining the Clinton Administration as the first director of the National Economic Council. In January 1995, he became the nation’s 70th Secretary of the Treasury. Mr. Rubin was introduced by former Secretary of the Treasury Timothy Geithner. “I cannot think of two more iconic figures than Robert Rubin and Chuck Schwab to receive these prestigious awards,” said Museum President David Cowen. “Mr. Rubin, through his leadership on Wall Street and within the federal government, is ideally suited to receive the Whitehead Award. And Charles Schwab is the perfect inaugural Financial Innovation Award recipient, given his many creations that assisted and championed the individual investor.” The 2016 Gala was the Museum’s most successful to date in both attendance and revenue. The event raised more than $1.25 million to support the Museum’s educational and programmatic initiatives.  MAR 14 1821 On one of the quietest days in Wall Street history, the market is open, but not a single share of stock changes hands.