New Big Board Chief Sets Goals: William...

New Big Board Chief Sets Goals: William H. Donaldson, the New York Stock Exchange’s new chairman, said he wants more foreign companies to be traded on the exchange to meet increasingly global investment demands. He also said he plans to fight growing competition at home and abroad and try to lure back individuals scared away by the 1987 crash and the perception the stock market is too sophisticated for small investors. On his first day as successor to the widely respected John J. Phelan Jr., Donaldson was cheered as he rang the bell opening trading and strolled the floor meeting brokers, traders and other market professionals. He takes over the nation’s biggest stock exchange during a sharp contraction on Wall Street after unprecedented growth in the 1980s.