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Jared Dillian
Traders Magazine Online News

Was it Worth It?

In this piece from 10th Man, author Jared Dillian discusses how the ETF revolution is less about ETFs and more about indexing; about how people have come to view stocks less as stocks and more as blobs of stocks.

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February 1, 2000

Fast Track

By John A. Byrne

W.R. Hambrecht & Co. in San Francisco nabbed most of the trading pros at Volpe Brown Whelan & Co. before the firm's acquisition by Prudential Securities. All told, 22 pros came over from Volpe Brown, including position traders, institutional traders and sales traders. Several Volpe Brown traders immediately assumed management spots at W.R. Hambrecht. John Caruana was named director of position trading, Gary Cuiper was named director of sales trading while Todd Clark was named director of listed trading.

Patrick Cannon joined Deutsche Asset Management in New York as a director and head of U.S. Equity Indexing. Cannon was previously with Barclays Global Investors, where he was a principal and head of small- cap equities.

Mesirow Financial in Chicago hired Susan Schwartzwald as a vice president in its Investment Services Division. She was previously a vice president at Fidelity Investments in Chicago and is the co-author of "Get Real! A Student's Guide to Money and Other Practical Matters."

John Garvey joined Instinet as senior vice president for global risk management. He was previously a partner in the financial services risk management practice at PricewaterhouseCoopers.

Legg Mason Wood Walker in Baltimore named Thomas P. Mulroy executive vice president and head of equity capital markets, with responsibility for the firm's equity research and equity sales and trading departments.

Stephen M. Miller joined Deutsche Banc Alex. Brown as a managing director and head of equities customer merger risk arbitrage trading. He was previously head trader in the risk arbitrage department at Goldman Sachs & Co.

Hill Thompson Magid & Co. in Jersey City beefed up its trading desk with three new traders: Wayne Clayton from Southeast Research, Robert Runnions from Bear Stearns, and Chris Sarkis, formerly of Paragon Capital. Nick DeMaria joined the firm's broker dealer development department. He previously traded equities at Dean Witter, GFI Group and Knight Securities. All report to Nicholas Ponzio, president of Hill Thompson.

Richard Farrell, a former senior vice president of strategic accounts for Reuters America, joined IXnet, Inc. and IPC Information Systems in New York as managing director, global sales, for both companies.

Thomas Weisel Partners expanded its OTC and listed trading desks with three new hires: Jack Monopoli joined as an OTC trader and Patty Reagan as a listed trader, both are from Volpe Brown Whelan & Co, now called the Prudential Volpe Technology Group. Kevin McEneaney comes on board as a sales trader from Banc of America Securities.

Charlie LaGanga joined Brean Murray & Co. in New York as vice president of the firm's Direct Asset Group. He was previously director of business development at Janney Montgomery Scott.

Terry Goodwin, formerly a head trader at Chase Manhattan Bank in New York, joined Goldman Sachs Asset Management as a head trader and vice president of equity trading.

Spear Leeds & Kellog Capital Markets in Jersey City added five sales traders, previously with Fleet Securities, to its Nasdaq trading desk: Fuji Bianchi, a senior vice president; Jamie Vollaro, a vice president; Dawn Patterson, and Karen and Mary Gurnee, who are sisters.

Fleet Trading in Jersey City added two new OTC traders: Bill Boyle, Jr. from Sharpe Capital and Mike Marcus from Myerson.

Internet Trading Technologies named Russ Lewis as chief operating officer. He was previously the chief information officer at Jefferies & Co.

Thomas Bosshard joined Javelin Technologies as head of European operations. He was previously vice president financial services/product marketing for New Area Networks.

CyBerCorp named Randy Schriewer as chief financial officer. He previously held CFO posts at several technology companies, including Philips Consumer Communications, Foreny Corporation, Conalco and Jerell.

NASD Regulation promoted David M. Fitzgerald to vice president and deputy chief hearing officer and Patrice M. Gliniecki to vice president and deputy general counsel.