Background
Grasso was raised by his mother and two aunts in Jackson Heights, New York City since his father left the family when Richard was an infant. He graduated from Newtown High School, and attended Pace University for two years before enlisting in the Army. Two weeks after leaving the Army in 1968, Grasso became a clerk at the New York Stock Exchange.
Richard moved up rapidly in the ranks, becoming president of the exchange and then CEO in the early 1990s. As CEO, he was widely credited with cementing the New York Stock Exchange's position as the preeminent U.S. stock market. Grasso also served as an advisory board member for the Yale School of Management.
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