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People: Board of Trade taps insider to apply contentious changes.(People)(Bernard Dan named executive director of Chicago Board of Trade)
Crain's Chicago Business, November, 2002 by Tita, Bob
Byline: BOB TITA Bernard Dan, the new executive director of the Chicago Board of Trade, is betting exchange members will accept from an insider the call for change they rejected from an outsider. Mr. Dan, a longtime futures industry executive who this month replaced David J. Vitale, a transplanted banker, faces a critical membership vote on overhauling the ownership structure of the Chicago Board of Trade (CBT).
He'll also be negotiating a new contract for the exchange's computer-based trading system for futures contracts. The success of both initiatives depends on convincing the legion of floor traders-who make up the backbone of the 154-year-old exchange-that their livelihoods would be enhanced, rather than threatened, by the changes. Mr. Vitale's...
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