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The Merrill Bernstein Shuttle

Traders Magazine, July 2004

Staff Reports

Sanford C. Bernstein & Co, feeling the same stock trading profit pressures as many of its competitors, has just named its third head of equity trading since the turn of the century. Tom Wright, a former Merrill Lynch stock trader, will replace Matt Andresen, who left earlier this year to join Citadel Investment Group. Wright will supervise a staff of some 65 senior traders in New York and London making trades for institutional investors. The post, vacant since February, has been a virtual revolving door since 2000. Prior to Andresen's term, another former Merrill hotshot, Tom Joyce, ran trading but left in May 2002 to become CEO and President of Knight Trading Group.

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