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Peter Maragos
Traders Magazine Online News

Rebate Debate Misses the Mark

Dash Technologies' Peter Maragos weighs in on the market rebate debate - saying there is nothing intrinsically wrong with rebates, per se. However, there is a problem with the brokerage industry’s dominant fee model.

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March 1, 2000

Larry Cohen

By Peter Chapman

Eleven years of long hours and hard work at Spear, Leeds paid off for Larry Cohen in 1997 when he was made a partner at the age of 35. One of only 50 partners out of a staff of 2,500, Cohen was the third IT pro to catch the brass ring.

"It's a great place to work," he said. "The firm has grown in both its respect on the Street as well as its focus on technology. We've gone from a fairly small IT shop into having our business depend quite a bit on technology."

If Spear, Leeds had such a title, Cohen would be the firm's chief information officer. As it is, he is the managing director of IT. He oversees the firm's technology effort minus the areas handled by partners Tom Williams and Mike Appleby. Cohen has a staff of about 250 to help him. He graduated from Boston University with a computer science degree in 1983 and then spent three years in J.P. Morgan's IT department. Cohen joined Spear, Leeds in 1986.