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Hosting World Leaders, Linking Public Companies with Policymakers, and Championing US Capital Markets

John Tuttle Lays Out a Broad Agenda for the NYSE Institute

Published

September 2022

Earlier this summer, the New York Stock Exchange launched the NYSE Institute, a unique initiative that taps into the exchange’s storied 230-year history to serve as a champion for the US capital markets and NYSE-listed companies.

The Institute’s launch comes at a moment when policymakers are focused on issues from capital formation to regulation, governments are seeking to better understand the importance of public markets amid a rapidly changing economic environment, and exchanges are functioning as truly global entities.

Curatia sat down with NYSE Vice Chairman and newly appointed NYSE Institute President John Tuttle to learn more about the initiative and the promise it holds for global policymakers and capital markets in the US and abroad.

The following interview has been edited for length and clarity.

CURATIA: You just launched the NYSE Institute — a novel initiative to advocate for NYSE-listed companies and the US capital markets. What are some examples of the kinds of things you envision the Institute doing?

JOHN TUTTLE: For over two centuries, the New York Stock Exchange has served as a bridge between public policy and commerce. Our listed companies hail from 46 countries, generate over $20 trillion of revenue annually, and employ over 40 million people directly and many millions more indirectly.

As you can see from those numbers, we have a very powerful voice. Today, we have an opportunity to raise the volume even further. The launch of the NYSE Institute was driven by feedback from our listed companies about the increasing need to promote the important role that public markets play in driving inclusive economic growth.

Another key goal of the Institute is to ensure the long-term competitiveness of our US capital markets. Our markets are home to the world’s greatest companies, broadest group of investors, and deepest pool of liquidity. At the NYSE Institute, it’s our job to ensure everyone from policymakers to private-sector officials understands the importance of expanding the global presence of our markets.

CURATIA: What was the genesis of this idea? Does the Institute pull together initiatives that were to this point disparate within the exchange? Or are you breaking new ground here?

JOHN TUTTLE: It’s a combination of both. It really comes from the feedback we’ve been receiving from CEOs, entrepreneurs and other stakeholders about the need for this type of platform.

Throughout my 15 years at the NYSE, we’ve hosted over 100 sitting presidents and prime ministers, many more ministers of finance and trade, and central bank governors. So, a lot of this engagement has already been taking place. The NYSE Institute provides a structure to even more effectively mobilize our resources and relationships to facilitate these events and conversations.

We’re also breaking new ground with the thought leadership component of the Institute. This will focus on leveraging the data, resources, expertise, and relationships that we have and work with key policymakers and relevant stakeholders to launch new initiatives and share our expertise.

CURATIA: The Institute appears to have a substantial global focus. The NYSE is known as an important stop for global dignitaries visiting New York. Do you intend to increase the tempo of these visits and play a bigger role in developing relationships with sovereign nations?

JOHN TUTTLE: Absolutely. As I mentioned earlier, we’ve had the good fortune to host over 100 sitting presidents and prime ministers. We’re going to continue to do so because our companies aspire to be multinational companies, and having access to key policymakers is going to help them advance their corporate strategies.

For global policymakers, providing access to people who are interested in investing in their countries and creating jobs is beneficial to both them and their constituents.

And while we will champion the continued strength and success of our US capital markets, we’re also supportive of developing capital markets around the world and helping other countries build out their infrastructure. We want to be a resource to global markets, allowing them to learn from our 230 years of experience and to apply our best practices to their jurisdictions.

CURATIA: Just two days after the Institute’s launch, the NYSE announced a broad collaboration with the Singapore Exchange. How does this relate to the Institute’s activities?

JOHN TUTTLE: Deepening our relationships in the international marketplace is something the Institute will be focused on. We’ve had a strong relationship with SGX over the years, and the memorandum of understanding we recently signed further strengthened our ties. The memorandum lays out a roadmap for how we can collaborate across markets.

CURATIA: You worked both at the State Department and in the White House prior to joining the exchange. Is this new NYSE Institute role something of a return to your roots?

JOHN TUTTLE: After a few years in Washington, I joined the NYSE 15 years ago to manage global affairs and government relations. So, for me this is a full-circle moment where I’m seeing a lot of the groundwork that we laid all those years ago come to fruition with the Institute’s launch.

We have a lot of talented people here at the NYSE and I can tell you there has been no shortage of inbounds from people who want to contribute — not only because they think it’s interesting, but because they understand the importance of what we’re doing.

CURATIA: The Institute’s mandate also includes thought leadership. Will you be holding Institute-specific events at the exchange? If so, what might they look like?

JOHN TUTTLE: We’re looking forward to hosting many Institute programs at the exchange.

If we think about some of the things we’ve done in the past, the late Japanese Prime Minister Shinzo Abe launched his economic policy, Abenomics, globally from the New York Stock Exchange. Four years later, he gave an update on the policy from the NYSE. This is a great example of the kinds of programming we plan to host.

We’ll also continue to be the place where leaders from business and government convene to share ideas, create opportunities, and deliver results.

CURATIA: Finally, anything further you can share about the Institute and its plans today, recognizing that this is a new initiative and planning is still in the early stages.

JOHN TUTTLE: Feedback has been overwhelmingly positive.

We’re excited about the future of the Institute and are very focused on the two items that catalyzed our launch: one, making sure that we’re a voice on the importance of public companies and public markets and two, driving inclusive economic growth. As new initiatives or opportunities arise, we’ll weave them into our strategy, but those issues are our main focus going forward.