Table of Contents

Four of the six charges against former NYSE chairman Richard Grasso have been overturned regarding his $187.5 million compensation package. The final outcome?

Grasso will settle the case
NY State will not pursue the case
Grasso lost his reputation, regardless
Not Spitzer's worst decision but up there

Previous Polls

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People Department

Articles from Traders Magazine

People On The Move

After a career of 35 years in the options industry, David Krell was recognized for helping transform the industry that raised him. Krell, former CEO of the International Securities Exchange and co-founder, with Gary Katz, of the exchange that helped force the options industry to embrace multiple listings and electronic trading, received the Joseph Sullivan Award from the Options Industry Council in Las Vegas last month. In his acceptance of the award, he said of the ISE, "We created intermarket competition."

People On The Move

Robert Arancio takes the reins as president of the Security Traders of New York (STANY). Arancio, head of trading at Neuberger Berman, replaced Stephen Kay, Knight Capital Group, as STANY's leader. A sellside trader at Lehman Brothers for most of his career, Arancio was featured in a Traders Magazine story last month in which he discussed a number of topics, including STANY's priorities during his tenure, as well as the evolution of trading and his move to the buyside last year.

On The Move

Noreddine Sebti, global head of equity trading at Deutsche Bank, is moving from New York to Hong Kong. There he will assume regional responsibility for the equities business in Asia. Sebti will keep his current title and continue to report to Yassine Bouhara, Deutsche Bank's global head of equities. "Locating a global business head in Asia clearly demonstrates the changing polarity of global equity markets and the growing importance of the region," Bouhara said in a statement. Sebti joined Deutsche Bank in 1998 and has held several senior roles in London and New York. He is a former derivatives trader.

On The Move

Michael Mangiafico joined Credit Suisse as a salesman for the firm's AES group. Mangiafico, previously a salesman at OMS vendor LatentZero, reports to Rupert Fennelly, who oversees AES sales in the Northeast.

Bravo, Bravo for High Touch

At a time when electronic trading has developed deep roots, Michael Crockett of Brazos Capital Management still favors picking up the phone and talking to his brokers. And as the Dallas-based firm takes mostly a hands-on approach to trading growth stocks in the mid-, small- and micro-cap areas, that means Crockett works the phone quite a bit.

No Heroes in "King of Club"

King of the Club: Richard Grasso and the Survival of the New York Stock Exchange