The American Stock Exchange has promoted Cliff Weber to become executive vice-president for development and strategy and named Scott Ebner to succeed him as senior vice-president for the exchange's ETF Marketplace.

In his new role, Weber will oversee the growth of exchange-traded funds, structured products and equity order flow. As part of his responsibilities, he will focus on positioning the Amex to respond to competitive changes in the marketplace as well as oversee the business development of ETFs and structured products and attract new order flow to the exchange.

Weber, who joined the Amex in 1990, has played a key role in the deployment and development of its successful ETF business. Over the past 17 years he has risen through the ranks to head product development and marketing of ETFs, most recently as senior vice-president for the ETF Marketplace.

'Cliff has extensive knowledge and vast experience in all of the Amex's business groups and his record of accomplishment, particularly in ETFs, will provide the exchange with solid leadership as we move forward in our strategic objectives,' says chairman and chief executive Neal Wolkoff.

Ebner joined the Amex in 1998 and has been instrumental in the expansion of Amex's ETF business, previously running the Amex's index calculation program, and most recently serving as a vice-president in charge of new product development.

'Scott brings considerable talent and experience to this position and his expertise in ETFs will greatly contribute to the Amex's standing as the leader in innovation and new product development,' Wolkoff says. 'These two promotions will add depth and experience to the Amex's senior management team.'

The American Stock Exchange offers trading across a full range of equities, options and exchange-traded funds, including structured products and HOLDRs. The exchange brought the first US ETF to market in 1993 and currently lists 265 funds.