John E. Herzog is Chairman and Chief Executive Officer of Herzog Heine Geduld, Inc. The firm, on of the nation's leading Nasdaq market-makers and a member of the New York Stock Exchange, was founded by Mr. Herzog's father in 1926.

  Mr. Herzog joined the firm in 1959. He spearheaded its expansion, and in 1983 guided the development of proprietary technology that has enhanced Nasdaq market-making with sophisticated real-time trade capabilities.

  Mr. Herzog's lifelong interest in financial history and memorabilia led to his acquisition of R.M. Smythe & Co., in 1967. The firm, founded in 1880, continues to research defaulted or obscure securities. Smythe also is one of the nation's leading auction firms, specializing in historic collectible stock and bond certificates and a wide range of financial antiques, coins, banknotes and other memorabilia.

  1n 1988, Mr. Herzog founded the Museum of American Financial History, a not-for-profit, New York State Regents chartered corporation, dedicated to the preservation and study of U.S. capital markets. The Museum's mission is to educate the public, the

nation's policy makers and students about the important role of finance in American history. Mr. Herzog, who has collected financial memorabilia for more than 35 years and who is especially interested in American Revolutionary bonds and other 18th century documents, donated much of his personal collection to the Museum, forming the nucleus of its collection.

  Born on March 18, 1936 in New York City, Mr. Herzog received a Bachelor of Arts degree in economics from Cornell University in 1957. He earned an MBA in management from New York University's Stern School of Business in 1970.

  Active in industry activities, Mr. Herzog has served as a Director of the Securities Industry Association and as a member of its Economic Education Committee and many other industry committees. He is a member of the Security Traders Association of New York, the Down Town Association, India House and the Grolier Club. He is also a trustee of Randolph Macon Woman's College.

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