Commentary

Jared Dillian
Traders Magazine Online News

Was it Worth It?

In this piece from 10th Man, author Jared Dillian discusses how the ETF revolution is less about ETFs and more about indexing; about how people have come to view stocks less as stocks and more as blobs of stocks.

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February 1, 2005

Fast Track

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*Merrill Lynch promoted Mike Stewart to head of global cash equity trading. Stewart was previously Merrill's head of global portfolio and automated trading. In his new role, Stewart is responsible for all cash equity, client connectivity and portfolio trading activities worldwide. He reports to Rohit D'Souza, Merrill's head of global equity trading.

*John Dolan was named chief executive of Van der Moolen Specialists USA. Dolan succeeds James Cleaver who has retired. Dolan's appointment completes the reorganization of the firm's management committee, which began in March 2004.

*Joseph Kennebeck joined the State of Montana Department of Commerce Board of Investments in Helena, Mt. He was previously the head of trading for electronic global securities in New York for Electronic Global Securities.

*Mike Dobin and Bob Mezey moved to Wm. V. Frankel as sales traders. Previously, both were sales traders at Vandham Securities.

*Vhayu Technnologies hired John Coulter as vice president of marketing and business development. Coulter was most recently president and COO of Javelin Technologies. Coulter was also a member of Ease Technologies.

*Sue McCaffrey joined money manager Systematic Financial Management as a trader. Before that, McCaffrey was a trader with New York Life Investment Management.

*National Financial hired Vincent Guido as a trader. Guido was previously with New York Stock Exchange floor broker Doyle Miles.

*Charles Amen joined Leerink Swann as a sales trader in New York. Amen previously worked for Blaylock & Partners and Sanford C. Bernstein & Co.

*Angela D'Angelo moved to Benchmark Company LLC as a trader. She was previously at J. Giordano Securities and Puglisi & Co.

*John Procopion joined Citigroup Global Markets in New York as director and head of broker dealer sales and the agency trading desk. Procopion previously served as the head of sales and transactions for INET.

*Henry Mayorga joined Tradeware Systems as director of operations. Mayorga will oversee a team of 10 operations specialists in network integration. Mayorga was previously vice president of networking engineering for Lehman Brothers.

*Stacey Marino became Tradeware Systems' president and chief operating officer. Marino was previously chief financial officer.

*SunGard Securities Processing announced that Craig Schachter joined as vice president of sales in SunGard's New York office. His responsibilities include SunGard's Phase3, margin advisor securities processing and clearance and settlement solutions. Schachter was previously head of global sales and account management at data and software provider, Xcitek.

*HPC Capital Management recruited David Batista as a managing director and head trader. The Atlanta-based merchant bank opened a New York City office, which will be run by Batista. Batista was most recently a Nasdaq position trader at SoundView Technology.