David Weild IV

David Weild IV
Occupation(s)	Investment banker, financial analyst
Years active	1990s–present
Known for	Vice Chairman of NASDAQ; "father" of the JOBS Act

David Weild IV is a prominent American investment banker and financial analyst, widely recognized for his previous role as Vice Chairman of NASDAQ. He currently holds the positions of Founder, Chairman, and CEO at Weild & Co. Inc., the parent entity of the investment firm Weild Capital, LLC (operating as Weild & Co.). Often referred to as the "father" of the JOBS Act, he played a significant part in shaping pivotal US legislation.

Early life

Weild completed his secondary education at Hotchkiss School in 1974, obtained a Bachelor of Arts from Wesleyan, and earned an M.B.A. from the Stern School of Business at New York University.

Career

During the mid-1990s, Weild held senior leadership roles at Prudential Securities for 14 years, where he directed global equity transactions. In 1999, he shifted focus to manage PrudentialSecurities.com and subsequently led customer-facing internet services for Prudential Financial.

Weild joined NASDAQ as executive vice president responsible for corporate clients, later advancing to Vice Chairman before leaving in July 2003 to head the National Research Exchange. He then established Capital Markets Advisory Partners—later renamed Weild & Co. Holdings—and led the Capital Markets Group at Grant Thornton LLP.

In December 2002, he was appointed Chairman Emeritus of Tuesday’s Children, an organization supporting families impacted by the 9/11 and US military casualties.

Reforming US stock markets

Weild gained nationwide attention for championing reforms to US IPO regulations, notably featured in a 1994 Businessweek cover story. Over time, he contributed articles to global business publications, including a 2010 Financial Times article addressing equity market structures disadvantaging small investors. In 2011, he authored an op-ed in The Wall Street Journal proposing a dedicated stock market to bolster smaller companies. Throughout his career, he managed over 1,000 equity offerings. His research has been cited by leading media; for instance, The Economist referenced his work at Grant Thornton LLP in 2009 linking market structure with the decline in publicly traded firms.

In 2012, Weild wrote for Crain's New York Magazine on revitalizing IPO activity among smaller enterprises following the problematic Facebook IPO. That same year, Congress enacted legislation enhancing IPO financing regulations. As leader of the New Markets Movement, he pushed for dismantling uniform stock markets, earning the nickname "Small-cap IPO evangelist" by The Wall Street Journal. Additionally, he co-wrote a chapter in the 2012 book Broken Markets, which connected diminished IPO volumes to reduced job growth.

JOBS Act

On June 20, 2012, Weild testified before the U.S. House of Representatives Financial Services Committee concerning market structure issues, emphasizing how insufficient tick sizes impeded Wall Street’s capacity to efficiently manage and support IPOs. He also participated in the SEC Advisory Committee on Small and Emerging Companies and contributed to Congressional efforts culminating in the April 5, 2012 enactment of the Jumpstart Our Business Startups Act. Continuing his advocacy for better regulations targeting small-cap firms, his research significantly shaped the final legislation. This involvement earned him recognition as the "Father" of the JOBS Act.

Additional critiques of US IPO markets

In 2012, Weild advocated for the creation of a dedicated stock exchange focused on small-cap firms to increase IPO activity by tackling issues related to aftermarket support. He proposed modifying tick sizes from fractional values to standardized increments such as pennies, nickels, dimes, or quarters to make pricing more straightforward for investors. According to Weild, enhancing economic incentives for small-cap stocks would improve both liquidity and valuation, thereby encouraging a greater volume of IPOs and subsequent job growth. He cautioned that sustaining historical levels of publicly traded companies requires a minimum of 360 IPOs annually—a benchmark that has not been reached since 2000. Contrarily, a 2018 FINRA pilot initiative revealed that quoting small-cap stocks in nickels actually decreased trading volumes and market maker engagement, opposing Weild’s earlier assertions. Nevertheless, Weild rejected the implications of this study and continued to stand by his original viewpoint.

Personal life

Weild is the sibling of stage actress and director Kim Weild. He is married and welcomed his first child in 2001.