Jared Dillian
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The Liquidity Problem

Maudlin Economics Jared Dillian examines stock market liquidity.

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December 1, 1998

Fast Track

By John Byrne

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Tim Conway was named evp and director of global trading. Conway was previously senior vice president of institutional sales. Todd W. Burns, previously general manager of Lynch, Jones & Ryan unit LJR International, was named evp and director of North American sales. John Delaney was promoted to evp and director of the fixed-income department. Delaney recently joined Lynch, Jones & Ryan from New York's Cantor Fitzgerald & Co. Bruce Feiner was elevated from senior vice president and manager of plan-sponsor services to evp and director of international sales. Thomas Vella was promoted to evp and director of global operations. He was previously senior vice president and director of strategic development.

*John Cusack joined New York's Innovest Strategic Value Advisors as chief executive. Innovest is a New York-based investment-advisory firm serving large institutional investors. Cusack was previously president of Gifford Park Associates, a New York-based international management, marketing and technology-consulting firm he founded.

*Jeff Christanell and Jim Benson left Huntleigh Securities in St. Louis and joined Smith, Moore & Co. cross-town. Christanell and Benson were both equity traders at Huntleigh Securities, and both trade on the Nasdaq desk at Smith, Moore & Co. Christanell, Benson and five Huntleigh Securities institutional sales people joined Smith, Moore & Co. in recent months.

*The Philadelphia Stock Exchange (PHLX) named Edith Hallahan, Joseph D. Jennings and William C. Terrel to first vice presidents. The PHLX also appointed James Farmer vice president, and Thomas J. Kelly controller.

Hallahan was also named deputy general counsel, responsible for coordinating the PHLX's legal matters. Jennings was also named chief financial officer, replacing William N. Briggs, who was recently promoted to senior vice president of operations. Terrell will also be in charge of PHLX trading-floor operations.

Farmer was promoted to vice president of marketing, responsible for managing all PHLX marketing efforts. Kelly, an 11-year PHLX veteran, was named controller.