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UPDATE 2-John Reed appointment draws praise, cautious support.

The America's Intelligence Wire

| September 22, 2003 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From CBS Marketwatch (Stories))

Byline: Miles O'Brien

NEW YORK (CBS.MW) -- John Reed received some early praise and cautious support Monday as the financial world reacted to his appointment as chief of the New York Stock Exchange for several months in the post-Dick Grasso era.

Reed, 64, was named interim chairman and chief executive of the NYSE on Sunday, ending a three-day search by the embattled board of the exchange following Grasso's resignation on Sept. 17.

"This guy is an outsider," said Lawrence White, a banking professor at New York University and former banking regulator.

Reed is former chief executive and chairman of Citigroup predecessor Citicorp. He's credited with making the bank a leader in technology, and with pushing the introduction…

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