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January 1, 2004

Fast Track

By Editorial Staff

*Advest, Inc. named James (Jamie) Townsend, former chairman and portfolio strategist at SoundView Financial Group, as director of research for equity capital markets. In addition to Townsend, other key appointments to equity capital markets include Andrew Crossfield, director of institutional sales; Stephen Mortati, director of institutional sales trading; Michael McClintock, managing director, Corporate Finance; and Christine Davis, Chief Operating Officer.

*Archipelago's ArcaEx created a unit to focus on corporate listings and information tools. Two ArcaEx executives - Jenny Drake (inset) and Sam Long - were promoted to run the new group. Also, Bob Power was hired away from Nasdaq as director of listing sales. Drake spent three years in Archipelago's legal and compliance department after joining from the NASD in 2000. Long joins from Archipelago Europe. Power was previously a senior vice president on Nasdaq's market intelligence desk.

*Doughtery & Company, is taking steps to expand its research sales and trading operations, hired Gary Blauer, a former director of research at US Bancorp Piper Jaffray. Blauer was named head of equity capital markets at the Minneapolis-based firm.

*Thomas Gabel joined Adams, Harkness & Hill as a managing director and head of institutional sales. Gabel will lead the Boston sales effort. He will manage five institutional sales teams of 17 salespeople.

*SunGard Trading Systems/BRASS made management changes to facilitate the split of the organization into two parts. Cindy Foster, BRASS' chief compliance officer, is now also a product line manager in charge of BRASS and other products. Mark Clark, formerly in charge of strategy and business development at SunGard Financial Networks and Execution Services, is now product line manager in charge of the direct market access group. The two report to STS/BRASS president Tom King.

*Scott Nedrow joined Ryan Beck & Co. as director of institutional sales. In a role that is new for Ryan Beck, Nedrow will have responsibility for managing the firm's institutional sales and sales trading efforts. Nedrow joins the firm from Kaufman Brothers in New York, where he was senior vice president of institutional sales.

*Jean-Francois Bernier joined Interactive Brokers Canada, a subsidiary of the electronic brokerage Interactive Brokers Group, as senior vice president and managing director. Bernier was a director of corporate finance at the Quebec Securities Commission. At IB Canada, he will be in charge of expanding the firm. He will also oversee legal, compliance and operational issues. Bernier will operate out of IB Canada's headquarters in Montreal.

*Jeffrey Tessler was appointed executive vice president for BNY Securities Group. He will coordinate strategic business development opportunities with the firm's largest institutional clients. Tessler was previously head of European operations for BNY Securities. Tessler will move from London to New York. He is being succeeded as head of European operations by Timothy Keaney.

*Chris Gregory joined Penson Worldwide, the clearing broker, as head of European operations. Gregory, based in London, was previously with the agency/direct access brokerage SunGard Global Execution Services. With Penson, the exec will be responsible for extending the company's electronic execution service in Europe.

*Nasdaq appointed James Johnson as head of the Office of Government Relations. Johnson joins Nasdaq from AT&T and will be based in Nasdaq's Washington, D.C. office. Johnson will be responsible for the day-to-day operation of Nasdaq's government affairs department and for leading legislative affairs and lobbying efforts on Capital Hill. Johnson replaces Dan Crowley.