NASD TO BEGIN SEARCH FOR NEW PRESIDENT
The National Association of Securities
Dealers, which will launch a search for a new president later
this week, will probably concentrate on candidates with an
extensive background in the financial markets, officials of the
organization said today.
    Gordon Macklin, 58, who has served as president for 17
years, today announced his decision to leave the organization
of 6,658 broker-dealers. Macklin will join Hambrecht and Quist
as chairman and co-chief executive officer.
    Association chairman Joseph Hardiman will appoint a search
committee later this week.
    The committee will have its first meeting as early as next
week. The new president is expected to be someone knowledgable
about the over-the-counter markets and committed to the concept
of self-regulation.
    Macklin joined the association as president in 1970,
leaving a position at McDonald and Co.
    The National Association of Securities Dealers Automated
Quotations System, which currently lists 5200 securities of
4400 companies, was ushered in 10 months after Macklin's
arrival.
 Reuter
