Steve Grasso and Richard Grasso are two prominent figures in the world of finance and trading. They have both been associated with the New York Stock Exchange (NYSE) for decades, and have appeared frequently on CNBC as market analysts and commentators. But are they related by blood or by name only? This article will explore the background, career, and family ties of these two NYSE legends.
Who is Steve Grasso?
Steve Grasso is the CEO of Grasso Global Inc., a financial consulting firm that provides strategic advice and market insights to institutional investors, hedge funds, and corporations. He is also a regular contributor on CNBC’s Fast Money, where he shares his views on stocks, sectors, and market trends. He joined CNBC in 2009 as a market reporter.
Steve Grasso started his career in 1993 as a clerk at the NYSE, where he learned the ropes of trading and investing from the floor. He quickly rose through the ranks and became a floor manager at Stuart Frankel & Co., one of the oldest and largest brokers on the NYSE. He was responsible for executing trades for some of the biggest names in the industry, such as George Soros, Mario Gabelli, Leon Cooperman, and Ken Langone. He also developed close relationships with many CEOs and corporate leaders, such as Jack Welch, Richard Branson, and Steve Jobs.
Steve Grasso has been praised for his market acumen, his ability to spot opportunities and risks, and his knack for making bold calls. He has also been recognized for his philanthropic efforts, supporting causes such as autism awareness, veterans’ welfare, and children’s education.
Who is Richard Grasso?
Richard Grasso was the chairman and chief executive of the NYSE from 1995 to 2003. He was widely credited with transforming the NYSE into a global powerhouse, expanding its reach, modernizing its technology, and enhancing its reputation. He also played a pivotal role in reopening the NYSE after the 9/11 attacks, which was seen as a symbol of resilience and recovery for the nation.
Richard Grasso began his career in 1968 as a floor clerk at the NYSE, earning $81 a week. He worked his way up the ladder, holding various positions such as head of listings, president, and vice chairman. He became the CEO in 1995, succeeding William Donaldson. As the CEO, he oversaw several initiatives that boosted the NYSE’s growth and competitiveness, such as launching new products, attracting new listings, forging strategic alliances, and improving governance and transparency.
Richard Grasso was also known for his charismatic personality, his rapport with traders and investors, and his advocacy for free markets and capitalism. He was a frequent guest on CNBC and other media outlets, where he promoted the NYSE’s vision and values. He also served on several boards and committees related to finance, education, security, and philanthropy.
Are They Related?
Despite sharing the same last name and working at the same institution, Steve Grasso and Richard Grasso are not related by blood or by marriage. They are not brothers, cousins, or in-laws. They are simply colleagues who have mutual respect and admiration for each other.
According to CNBC , Steve Grasso once joked that he wished he was related to Richard Grasso because he could have benefited from his mentorship and guidance. He also said that he admired Richard Grasso’s leadership skills and achievements at the NYSE.
According to Wikipedia, Richard Grasso was raised by his mother and two aunts in Jackson Heights in New York City. His father left the family when Richard was an infant. He graduated from Newtown High School in Queens and attended Pace University for two years before enlisting in the Army.
According to Company Partnership , Steve Grasso was born on June 12 in New York City. He graduated from Archbishop Molloy High School in Queens and attended St. John’s University for two years before dropping out to pursue his career at the NYSE.
Conclusion
Steve Grasso and Richard Grasso are two successful and influential figures in the financial world who have made their mark on the NYSE. They have both started their careers as clerks at the NYSE and climbed their way to the top positions. They have both appeared on CNBC as market experts and commentators. However, they are not related by blood or by marriage. They are simply two professionals who share a common passion for trading and investing.
