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Some Like It Hedged

BNP Asset Management's Pojarliev discusses a variety of options to address foreign currency exposures. Although there is no single best-practice solution for addressing foreign currency exposures, institutional investors have three main choices, he says.

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August 31, 2001

Fast Track

By Editorial Staff

*Nasdaq London International Financial Futures and Options Exchange Markets (NqLX) appointed Robert Fitzsimmons acting chief executive. He is president and chief operating officer of NqLX. David Harris was named general counsel for NqLX. He was previously counsel to the chairman and chief executive of the National Association of Securities Dealers and the Nasdaq Stock Market.

*Bob Padala joined Prudential Securities in New York as a managing director and co-head of equity trading. He was previously with Credit Suisse First Boston.

*Don Meccia joined William O'Neil & Co. in Los Angeles in the firm's institutional services department. He was previously with BNY ESI & Co. in San Francisco.

*Williams Capital Group in New York hired Betsy J. Hoffman as vice president, senior sales trader. She was previously with First Albany Corp.

*Ohio Bureau of Workers Compensation in Columbus, Ohio, hired Keith Zolkowski as a buy side trader. He was previously with First Fiduciary.

*Dennis M. Murray was elected to the board of governors of the Board of Trade Clearing Corporation (BOTCC) in Chicago. He is vice president, regional director of operations at J.P. Morgan Futures in New York. Michael C. Dawley was named vice chairman of the BOTCC. He is vice president of futures operations at Goldman, Sachs & Co. in New York.

*Credit Suisse First Boston in New York hired Gary G. Lynch as its general counsel. He was previously a partner at the law firm of Davis Polk & Wardell and was formerly director of enforcement at the Securities and Exchange.

*Kevin Willsey, previously with Goldman Sachs, joined J.P. Morgan Chase in New York as co-head of equity capital markets.

*Bridge Trading Company in St. Louis, MO., named a new executive team to manage the firm's operations: Scott Marsh, previously senior vice president, OTC trading, was named managing director; Richard Paulson, formerly senior vice president and chief financial officer; was made executive vice president and chief operating officer; and John Sintzel, previously senior vice president, listed trading, was named executive vice president. Zachary Snow, who was executive vice president of Bridge Information Systems, was tapped as interim president and chief executive, pending the closing of the sale of Bridge Trading to Reuters.

*The Board of Governors of the Philadelphia Stock Exchange renewed Meyer "Sandy" Frucher's three-year contract as chairman and chief executive.

*Edward J. Johnsen joined the law firm of Katten Muchin Zavis in Chicago as a partner in the firm's financial services practice group. He was previously director and head of equities compliance at Deutsche Banc Alex. Brown.

*Jefferies & Company in New York hired Brian O'Dowd and Mike Silver as position traders. Both were previously with Knight Securities.

*The Securities and Exchange Commission named Rosalind R. Tyson acting regional director of the Pacific regional office. She was previously associate regional director for regulation in the Pacific regional office. Stephen M. Cutler was appointed acting director of the division of enforcement. Cutler, who was previously the division's deputy director, succeeds Richard Walker.

*Merrill Lynch named E. Stanley O'Neal as president and chief operating officer. He was previously president of the firm's U.S. Private Client Group. Joseph W. Prueher, former U.S. Ambassador to the People's Republic of China and a retired Navy Admiral, was elected to the firm's board of directors.

*Lehman Brothers in Tokyo appointed Yashwant Bajaj as global head of the

firm's Japanese cash equity sales group. He was previously a senior vice president in Lehman's equity division in Tokyo. The firm also hired Ashley Kent, from ING Barings, as head of it's Japanese cash equity sales team for it's London office.