John D'Antona Jr.
Traders Magazine Online News

CANNABIS CORNER: Funding Without Prejudice

It might be getting a whole lot easier to inhale if one is in the cannabis industry.

Traders Poll

Are you ready to comply with the new updates required by the amended Rule 606?

Free Site Registration

April 30, 2004

Fast Track

By Editorial Staff

*John Schwartz joined State Street Global Markets, the investment research and trading arm of State Street Corporation. He is head of U.S. equity sales. Schwartz previously spent some 15 years at Goldman Sachs in Boston, New York and London in a variety of equity and fixed income positions. Schwartz will report to Nick Bonn, executive vice president and global head of equities for State Street Global Markets. At SSGM, Schwartz will lead and manage all equity sales operations in the U.S.

*Knight Trading Group shuffled senior management. Glenn Callen, formerly head of cash equity trading, will oversee a newly-created special situations group. Callen joined Knight in July 2002, after more than 15 years with Merrill Lynch. He was hired to restructure Knight's cash equity trading operations. Callen will now develop a new component of Knight's cash equity trading business for institutional clients.

*Gregory Voetsch, formerly head of institutional sales at Knight, takes over from Glen Callan at Knight. Voetsch was named executive vice president of equity sales and trading. Voetsch has management of Knight's trading operations on top of his current sales responsibilities. Voetsche joined Knight from Salomon Smith Barney in September to lead the company's institutional client group.

*Mark Esposito joined OneExchange as a project coordinator. Esposito is a 23-year trading veteran on the Chicago Board Options Exchange floor. In addition to trading under the badge of SPO, Esposito has been active in CBOE committee affairs and with the introduction of the exchange's hybrid trading system.

* SunGard Trading Systems/Brass named James Leman as president. He takes the reins from Tom King, who held the post since 1999. For about a dozen years Leman served as managing director of global equity customer electronic trading and connectivity at Citigroup. Previously, he was manager and vice president of equity trade support for Salomon Brothers. King remains a senior executive at Sungard Trading Systems.

*Steve Crosby joined BT Syntegra as executive vice president and general manager for the Americas region. He will have responsibilities for sales, marketing, operations and distribution channels across North, Central and South America. Crosby is a former managing director of BearingPoint and one-time acting CEO of straight-through processing utility GSTP

*The Bulletin Board and Pink Sheets are opening opportunities for traders. In Florham Park, New Jersey, Seaboard Securities ramped up a trading operation in these markets. Seaboard hired a slew of sales and trading pros: Michael Griffo and William Johnson, formerly of Wien Securities; Jamie Meagher and Joseph Donadio, previously with Paragon Securities; Howard Strack of CJ Lawrence and Deutsche Bank; Michael Warwoda of Spencer Trask; Bob Hollander, a former Fleet Trading pro; Andrew DiLauro of First Albany; Chris Angevine of Fidelity Financial Services and Brian Strack, a former Knight Securities professional.

*Douglas Engmann joined options and equity execution and clearing firm PreferredTrade as CEO. Engmann was previously head of ABN Amro's clearing and execution services (AACES) division. AACES was dissolved following ABN's sale of its prime brokerage business to UBS Investment Bank and its professional brokerage operation to Merrill Lynch. At Preferred, Engmann rejoins his brother Mike, who is chairman and co-CEO. The two founded Sage Clearing Corporation in 1980, later selling it to ABN in 1998. ABN rolled that business into AACES in 2001.

*The Philadelphia Stock Exchange (PHLX) has a new vice president of equity surveillance. He is Michael Barth, who previously spent 10 years in equity surveillance at the Pacific Exchange, during a 21-year career at the mart.