Commentary

Marianne Brown
Traders Magazine Online News

The Surprising Factor Financial Firms Need to Invest in To Accelerate Growth

When it comes to people, a firm's success relies on more than just the top contributors to the bottom line, according to FIS. In its latest report, shared with Traders Magazine, the firm says it actually found firms that are prioritizing investments in digital expertise are growing nearly twice as fast as their peers.

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May 31, 1999

Fast Track

By John A. Byrne

Peter M. Grant was named co-head of Minneapolis-based Dain Rauscher Wessels, the capital-markets arm of Dain Rauscher Corp. Grant was previously senior managing director and director of research, sales and trading at Dain Rauscher Wessels. In his new position, Grant will manage the firm's day-to-day operations, and he will share leadership of the firm with Kenneth J. Wessels.

nWalnut Street Securities named Don Mueth executive director of investment and advisory services. Mueth has been with the St. Louis broker dealer since 1994, serving most recently as the head of advisory services at the firm.

Charles Sanacore was appointed director of the brokerage-securities practice at the DMR Consulting Group. DMR Consulting is a New York-based provider of information-technology services. Sanacore will manage the firm's securities industry initiatives. Following a 15-year career in the clearance department at now renamed Morgan Stanley, Dean Witter & Co., Sanacore served most recently as a consultant to a number of European brokerage firms.

ABN AMRO Asset Management in Chicago named Dennis P. Sheehan executive vice president and managing director of marketing, and Steven A. Smith senior vice president and director of mutual funds. Sheehan, who will be responsible for all marketing, sales and client services in the U.S., joined the firm from Sanford C. Bernstein & Co. in Chicago, where he was vice president of institutional marketing. Smith was previously director of external and internal distribution at BISYS Fund Services in Chicago. In his new position, Smith will be responsible for product development, management, marketing, administration and distribution.

Ted Mortonson was named director of institutional equity sales at Minneapolis-based Dain Rauscher Wessels. Mortonson had been the institutional equity sales manager for the firm's west region. In his new position, he will be in charge of Dain Rauscher Wessels' 27 institutional equity salespeople. He will report to Peter Grant, senior managing director of research, sales and trading. Also, Dain Rauscher Wessels named John Adams director of equity research. An employee at the firm since 1995, Adams most recently served as a technology analyst.

Lynch, Jones & Ryan, a New York-based institutional agency trading firm, opened a London office at 33 Trogmorton Street. Bruce Feiner was promoted by the firm and transferred to London as director of international sales. Feiner was previously director of the plan sponsor service group in New York.

Robert E. O'Hara III joined the equity block trading desk at Jefferies & Company in Short Hill, N.J. He was formerly a partner and co-head of equity trading at Goldman Sachs where he worked for 15 years. Before that he worked at Morgan Stanley in a similar capacity. At Jefferies & Company, O'Hara will work with the firm's block trading coordinator, Scott Jones, to help expand the block trading desk.