A woman will lead the New York Stock Exchange for the first time in its 226-year history

  • The NYSE has named Stacey Cunningham as the successor of president Tom Farley, a spokeswoman told Business Insider.
  • Farley is leaving the exchange to lead a venture backed by Daniel Loeb's hedge fund, according to a report by The Wall Street Journal.

The parent company of the New York Stock Exchange has named a new president to lead the iconic Wall Street institution, a spokeswoman confirmed to Business Insider. 

Stacey Cunningham, the chief operating officer of the NYSE, is set to become the president of the exchange venue, which is owned by Atlanta-based Intercontinental Exchange. She will be the exchange's first female president since its founding over 200 years ago.

On Friday, Cunningham will replace Tom Farley, who has served as the president of NYSE since 2014. Farley was the second-youngest person to head the exchange. John Tuttle, the head of listings at NYSE, is replacing Cunningham as COO, according to a spokeswoman.  

RELATED: Check out the New York Stock Exchange before the election:

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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 7, 2016. REUTERS/Brendan McDermid
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 7, 2016. REUTERS/Brendan McDermid
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 7, 2016. REUTERS/Brendan McDermid
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 7, 2016. REUTERS/Brendan McDermid
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 3, 2016. REUTERS/Brendan McDermid
Pedestrians walk along Wall Street near the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Oct. 31, 2016. U.S. stocks rose from a six-week low amid an increase in deal activity as traders assessed the outlook for the presidential election and interest rates in the world's largest economy. Photographer: Michael Nagle/Bloomberg via Getty Images
NEW YORK, NY - NOVEMBER 01: Traders work on the floor of the New York Stock Exchange (NYSE) on November 1, 2016 in New York City. As Wall Street continues to feel election uncertainty, the Dow Jones closes fell more than 100 points. (Photo by Spencer Platt/Getty Images)
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, Nov. 4, 2016. U.S. stocks fluctuated amid payrolls data that bolstered speculation the economy is strong enough to weather higher interest rates, while investors remained wary before the looming presidential election. Photographer: Michael Nagle/Bloomberg via Getty Images
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, Nov. 4, 2016. U.S. stocks fluctuated amid payrolls data that bolstered speculation the economy is strong enough to weather higher interest rates, while investors remained wary before the looming presidential election. Photographer: Michael Nagle/Bloomberg via Getty Images
NEW YORK, NY - NOVEMBER 01: Traders work on the floor of the New York Stock Exchange (NYSE) on November 1, 2016 in New York City. As Wall Street continues to feel election uncertainty, the Dow Jones closes fell more than 100 points. (Photo by Spencer Platt/Getty Images)
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Oct. 31, 2016. U.S. stocks rose from a six-week low amid an increase in deal activity as traders assessed the outlook for the presidential election and interest rates in the world's largest economy. Photographer: Michael Nagle/Bloomberg via Getty Images
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Farley is joining a firm backed by Third Point, the hedge fund founded by Daniel Loeb, according to The Wall Street Journal, which first reported the executive shakeup

Cunningham has been with NYSE since 2012. She joined the exchange from cross-town rival Nasdaq. 

Notably, Nasdaq named Adena Friedman as its chief executive officer in 2017. That made her the first female to lead a global exchange.

As noted by the Wall Street Journal, the appointment of Cunningham follows the rise of the #MeToo movement on Wall Street and the announcement that the "Fearless Girl" statue, a symbol of feminism, will be relocated in front of the exchange

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