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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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September 30, 2002

Fast Track

By Editorial Staff

*Michael E. Donoghue joined KV Execution Services LLC as an institutional floor broker. Donoghue, a New York Stock Exchange member since 1989, was previously a director at UBS PaineWebber, where he spent two years.

*Mindy Barnett joined Andy Garrett at ETG, LLC in Atlanta where they will provide direct access, agency executions for institutional and retail customers. Prior to joining ETG, they both worked together at Sterne, Agee & Leach, Inc.

*Jim Wilent and Mike Einersen formed VIA-NET, a new venture offering execution services on the NYSE. Wilent was formerly head of broker dealer business development at Ashton Technology Group. Einersen, a member of the NYSE for 15 years, is regarded as a pioneer of wireless trading on the NYSE. He is the former chief executive and founder of Axis Global, vice chairman and president of SunGard Global.

*Greg Meekings was named chief information officer of Reuters. A veteran of Reuters for more than 15 years, he will report to Philip Green, COO of Reuters.

*First Albany nabbed three traders from the now defunct Robertson Stephens. Victor Pugliese, a former managing director and senior listed position trader at Robertson Stephens, joined as managing director and head of New York equity trading for its equity capital markets division. Ray Gilliam and Chris Hannan, both formerly Nasdaq market makers at Robertson Stephens, joined First Albany as principals on the Nasdaq trading desk.

*Caplin Systems named John Lee as executive vice president of U.S. sales. He came from Reuters Group where he was most recently senior vice president of solution sales.

*Three Wall Street veterans joined Knight Trading Group's institutional business. Greg Voetsch was named senior vice president and head of the institutional group, a new position overseeing all sales and relationships for institutional clients. Voetsch was previously head of Nasdaq sales trading at Salomon Smith Barney. Voetsch has spent 19 years on the Street with various firms.

James Smythe was named to the newly-created position of senior vice president, institutional soft dollars. Smythe joins Knight after a 24-year career with Merrill Lynch. Most recently he was a managing director responsible for sales and marketing of the firm's broker dealer clearing and directed commission businesses. Prior to that he was president of Broadcort Capital, a Merrill subsidiary, where he oversaw the soft dollar business of the Citation division among other duties.

Daniel Hurwitz was named senior vice president and head of Knight's San Francisco office. He is responsible for West Coast institutional sales. Hurwitz was most recently in sales with Roberston Stephens. He has also worked for Goldman Sachs and J.C. Bradford in his 10 years covering the West Coast.

*Harborside+, the relaunched anonymous block trading service, hired Michael Cashel as chief operating officer. Cashel is the former head of institutional equity sales at ABN AMRO.

*D.A. Davidson is on a building spree and named Dan Shapiro, director of Nasdaq trading, which is a newly-created position. Davidson, which wants to hire more pros, including a team of analysts, said Shapiro will report to Jim Volk, managing director of equity trading. Shapiro came from Frost Securities in Dallas, which was shuttered in July.

*Nicole Goudey-Rigger replaced Michael Caffi as chairman of the FIX Protocol steering committee. Goudey-Rigger manages the Alliance risk management compliance group. Caffi is vice president for equity trading systems at State Street Global Advisors.