NYSE Euronext’s innovation chief shares his ‘3P Compass’
Dieter Eisinger leads the Innovation Office at the global stock exchange giant NYSE Euronext, where he also serves as Chief Procurement Officer and Chief Administrative Officer. In these roles, he is responsible for all global sourcing, post-merger integration, and strategic cost reduction initiatives. Prior to NYSE Euronext, Eisinger was a consultant and practice director with Bain & Company and CSC Index advising companies in the banking, capital markets, insurance and manufacturing industries on strategic and operational topics. His essay on how the 3P Innovation Compass helped NYSE Euronext rebound from the 2008 financial crisis will appear in “Innovation Alchemists,” a forthcoming e-book.
I hated learning Latin. When I was in seventh grade memorizing Virgil’s poems with my Viennese classmates, I had no idea the phrase novus ordo seclorum is on the back of every dollar bill. I had no idea I would one day move to the United States and build a family, no idea I would have to renew my own self to adapt to America, and most certainly no idea that I would have the privilege of walking through the golden doors of the New York Stock Exchange every day for eight years, working in the vortex of change.
The verb innovare, I learned in my Latin classes, means to renew. For me, moving to the U.S. meant relearning basic business principles in an e-economy that was invincible, and a stock market that knew only one way: up. When the bubble burst and the horrific events of 9/11 sent markets into a tailspin shortly after my arrival, the American dynamism I was just learning was replaced with anxiety. It was at this time that an entire new breed of exchanges was in the making. Exchanges were being transformed with technology as their catalyst.