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August 31, 1999

Fast Track

By John A. Byrne

Trimark Securities, the third market division of Knight/Trimark Group, is beefing up its block desk. Ken Ducey has joined the Purchase, NY-based firm as a vice president of sales and marketing. He was formerly director of trading at BT Brokerage for eight years.

Bob Baumann has joined Trimark as a position trader. Previously, he was at Bank of America Securities.

Separately, Trimark began targeting "oversized" orders in the second quarter of last year with a new unit headed up by John Gephardt.

PaineWebber added three new position traders to its Nasdaq desk. They are: John Stoller, who spent three years as a position trader at Everen Securities; John Ciolino, a position trader at SG Warburg for one year; and Jeff Cohen, a position trader at Sharpe Capital for two-and-a-half years. Paine Webber now has 16 position traders.

Robert Krioski, a top executive and original member of the Bloomberg Tradebook ECN, has defected to a rival ECN. He is now an executive vice president for sales and marketing at BRUT, or the BRASS Utility, a unit of Weehawken, N.J.'s Automated Securities Clearance. Most recently a senior sales and marketing official with Tradebook, Krioski was involved with its creation and development.

Larry E. Thompson was promoted to General Counsel at the Depository Trust Company. The move is part of a plan to create a new holding company under which DTC and the National Securities Clearing Corporation will operate as separate affiliated companies. Thompson will continue to report to Richard Nesson, who will move into the post of General Counsel for the Depository Trust & Clearing Corporation, the new holding company.

San Francisco's Volpe Brown Whelan & Co. continues to expand. Katey Forell was signed as the technology and health care bank's senior agency trader. She comes from Hambrecht & Quist where she was a market maker for seven years.

Todd Clark will head up listed position trading. He was previously in charge of institutional listed trading at Charles Schwab & Co. for one-and-a-half years.

Volpe Brown's trading unit comprises 18 traders including two on the agency desk; nine on the sales trading desk; one on the listed desk; and six OTC market makers. The unit makes markets in about 180 stocks.

Software publisher NeoVision Hypersystems signed Jim Mancuso as its senior vice president of sales and marketing. He will be responsible for directing all sales and marketing initiatives. Mancuso was previously with Clarify, a call-center software outfit.

Charles Schwab & Co. co-chief executive David Pottruck joined the Board of Governors of the NASD. "David's wealth of experience and unquestioned leadership abilities will be immeasurable assets to the NASD," said Frank Zarb, NASD chairman and chief executive Pottruck has been with Schwab since 1984.

Dan Franks was appointed Senior Vice President of Market Operations at Nasdaq, effective August 30. He will be responsible for the department that oversees the day-to-day market operation of Nasdaq. Franks, 53, served for the past 14 years as SVP of trading at Scott & Stringfellow.

Francis T. Mullen and Tim Norton will co-head San Francisco investment bank Putnam, Lovell, De Guardiola & Thornton's equity capital markets group. Mullen is in charge of sales and sales trading while Norton will run the position desk.

Mullen was a managing director and senior institutional salesperson at ING Baring's Furman Selz unit. Norton previously ran the San Francisco trading operation of Cantor Fitzgerald & Co.

Putnam Lovell has branched out into securities sales and trading in order to facilitate its intended push into IPOs. The firm's desk consists of two traders and four salespeople.

Robert De Nunzio has joined The Capital Markets Company as a partner, focusing on strategy and market operations. De Nunzio was most recently a principal in the global financial institutions practice at A.T. Kearney.

Herzog Heine & Geduld has added two new position traders: Jeffrey Logan, most recently at Knight Securities, and Angelo Nickas, previously with Deutsche Bank Alex, Brown. Herzog now has some or 60 position traders.