Commentary

Marianne Brown
Traders Magazine Online News

The Surprising Factor Financial Firms Need to Invest in To Accelerate Growth

When it comes to people, a firm's success relies on more than just the top contributors to the bottom line, according to FIS. In its latest report, shared with Traders Magazine, the firm says it actually found firms that are prioritizing investments in digital expertise are growing nearly twice as fast as their peers.

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May 31, 2001

Madoff's Ed Heaney Takes His Leave

By Sanford Wexler

After a half century in the securities industry, Ed (Edward) Heaney, an executive with Bernard L. Madoff Investment Securities in New York, is retiring this summer.

A special official in marketing and client services, Heaney worked with Madoff for the last decade.

Previously, he was a senior partner at Michael J. Heaney & Co., and a vice president of marketing at the New York Stock Exchange. Heaney plans to spend more time with his family and work on various charitable endeavors.

Bernard L. Madoff, president of Madoff, praised Heaney, saying he has been "a very valuable and helpful person in our firm. He has long-standing relationships with lots of people throughout the industry over the 50 some years that he has been in the industry."

Madoff added, "He has kept our clients abreast of the changes that are taking place."

Heaney is a well-known conference participant among the membership of both the Security Traders Association and the Securities Industry Association. "He attended virtually every STA and SIA conference throughout his career," Madoff said.

Family Tradition

The Heaney name is not leaving the Street. Heaney will continue to retain ownership of his seat on the American Stock Exchange. And his three sons are carrying on the family tradition: Mathew, an institutional sales trader at Knight Securities; Edward, an institutional sales trader at Morgan Stanley; and Mark, who is starting work as a money manager in August.

Heaney, the elder, hinted that he may become more active on the Amex.

"The Amex is of interest to me," he said. "But first I'll enjoy the summer off and then see what happens."