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Shipway Leads GW Society
No one knows more about the value of financial planning than those working in the financial marketplace. And few Washington College alumni are as appreciative of their college education as Glen Shipway '65, a member of the Board of Visitors and Governor since 1999.
That made Shipway, the chief executive officer of Primex Trading and former executive vice president of NASDAQ, "the ideal choice" for new leadership of the George Washington Society, says Don Moore, associate vice president for development. Shipway succeeds Barbara Townsend Cromwell '55, who served as chair for four years.
The George Washington Society recognizes those who have made provisions for Washington College through planned giving. Members may give to the College either through life income and deferred gifts, or through bequests.
Shipway, who came to Washington College on a scholarship, agreed to serve on the board, in part, to repay his debt to Washington College and to make it possible for today's students to enjoy the same educational advantages he had.
"I have always been grateful for the financial assistance I received that made my education possible," says Shipway, a former mathematics major. About a year ago, through his own estate plans, he made provisions to bequeath money to Washington College for scholarships.
After graduation, he spent two years with E. I. DuPont deNemours, and then volunteered for the U.S. Army, spending his last year of service in Vietnam.
In 1967, he launched his career as an examiner with the National Association of Security Dealers and in 1973 moved to Interstate Securities Corporation in Charlotte, NC. During his 16 years there, he managed virtually all areas that involved risk and the trading of the firm's capital, including option and commodities departments, New York and American Stock Exchange floor operations, corporate bond trading and proprietary trading.
From 1989 until 1999, Shipway worked for the NASDAQ Stock Market, where he was responsible for market services. As a senior member of the management team, he successfully planned, launched and operated the ACT, SelectNet and OTC Bulletin Board systems. He also played an integral part in every major rule change involving trading, systems and market structure in the past ten years.
He left NASDAQ to run Primex Trading, a developer of electronic auction market systems for the financial industry. Primex Auction System is the first to automate the trading principles employed by traditional stock exchanges.
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