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Jared Dillian
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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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April 1, 2000

Nasdaq Trading Leaders Make Lifestyle Changes

By Sanford Wexler

Two top leaders in the Nasdaq market-making community have made career changes.

Arthur Kearney and William Rothe, each former chairmen of the Security Traders Association, recently left the firms where they spent most of their Wall Street careers.

Kearney, an immediate past chairman of the STA, has joined the Electronic Trading Group (ETG), a New York-based broker dealer specializing in proprietary trading. He was named Mid-West regional director. After a 32-year stint, he resigned last year from John G. Kinnard in Minneapolis, where he was executive vice president and director of capital markets. He will remain in Minneapolis.

Rothe said he is planning to play golf while serving for the next six months as a consultant to Deutsche Banc Alex. Brown. He retired as a managing director of Nasdaq and OTC trading, having worked at Deutsche Banc Alex. Brown and its predecessors firm in Baltimore for 38 years.

While the golf course beckons for Rothe, Kearney is taking on a full plate at ETG. Kearney said ETG gives "professional traders like myself with years of experience a unique platform, providing the capital, technology and infrastructure needed to let us do what we do best - trade."

"I feel I can help ETG develop new strategies that will benefit both the marketplace and the professional trader," he added.

Rothe, meanwhile, is sticking with his consultancy work on regulation and compliance for Deutsche Banc. He has previously advised the U.S. Department of Justice and the Securities and Exchange Commission on Nasdaq trading issues. Rothe said he also plans to spend more time on personal business. "I'll be building a house on [family] property in Hilton Head while improving my golf handicap," he said.