Commentary

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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April 30, 2000

Fast Track

By John A. Byrne

Jose M. Rios, previously with PaineWebber, joined ABN-AMRO in New York as vice president and assistant manager of the firm's broker dealer agency desk. He reports to Len Vinci, director and manager of the desk.

DMR Consulting, an Edison, N.J.-based information technology systems provider, hired Brian Decker as regional director, northeast securities industry. He was previously president and chief executive of Decker, Fagin and McDonough, a securities trading and financial services firm.

Peter Gaffney joined NeoNet Securities, a European discount broker for institutional investors, as vice president of the firm's U.S. division. He was previously a vice president of new business and technology development at PaineWebber.

Knight/Trimark Group made several top marketing and operations appointments: Walter McBride was named chief information officer. McBride will oversee Knight's information technology department. Prior to joining Knight, McBride was a principal in Ernst & Young's Consulting Services IT Practice. William McGowan, formerly head of securities trading and clearance division at Mesirow Financial, joined as a senior managing director, overseeing the operation execution division at Knight Financial Products. Joining McGowan is Mark Kuper, a managing director. Kuper was most recently at SG Cowen Securities Corporation where he oversaw the firm's equity execution services division. Andrew Kolinsky, previously in charge of marketing, sales, public relations and operations at the Chicago Stock Exchange, joined as a senior managing director of marketing and new business development.

Ashton Technology Group appointed Marc Gresack as president of its Universal Trading Technologies Corp. unit. Gresack was previously senior vice president of Instinet.

J. Randy MacDonald left ITG where he was chief financial officer to become CFO at Ameritrade Holding Corp.

Charles Balfour, a senior vice president of Nasdaq, was promoted to senior managing director for global sales. Balfour will take on responsibilities for Nasdaq-Europe, which is scheduled to begin operating in early 2001.

NYFIX in Stamford, Conn. hired two senior executives: Joseph Vernon from Schroder & Co., where he was director of equities technology, and Jack Kindregan, who previously held senior trading and institutional sales positions at ABN AMRO, Furman Selz and PaineWebber. Vernon joins NYFIX as a senior vice president and Kindregan as vice president, sales and marketing.

Michael Kurtz, previously at Fox-Pitt, Kelton, joined Gerard Klauer & Mattison in New York as a Nasdaq and listed sales trader. He is also a senior vice president.

Stefan Gottschalk, a new face in trading, joined First Security Van Kasper in San Francisco as an agency trader.

Thomson Financial ESG named Gary Foster chief technology officer. The position will expand his current responsibilities as director of advance engineering for ESG's Intelligent Trade Management. He joined Thomson in 1987 from John Hancock Mutual Life Insurance Company where he was involved with business and software development.

Daniel F. Shea, director of the SEC's Central Region, is leaving the agency to become vice president and deputy general counsel of PaineWebber. He will assume his post at PaineWebber during the summer.

Tradescape.com in New York named Michael P. Molnar president of the company and a member of its board of directors. He was previously a managing director and head of global retail sales and trading at Citigroup's Salomon Smith Barney

Bart Barnett joined J.C. Bradford & Co. in Nashville, Tenn as a sales and position trader. He was previously with Banc of America Securities.

Ladenburg Thalman & Co. in New York hired Richard Keary as head of the firm's OTC desk. He was previously with Fleet Trading.

Emanuel Goldman joined ING Barings in New York as an equity research analyst, covering beverage companies, a new sector for the firm's U.S. equity research team. Goldman was previously with Merrill Lynch.

Instinet named Calvin Mitchell III senior vice president, external communications. He was previously senior vice president at Abernathy MacGregor Group, a financial public relations firm in New York.