Commentary

Anne Plested
Traders Magazine Online News

Bottlenecks Ahead

Anne Plested, head of Fidessa's EU Regulation Change programme, has written a short blog arguing that although we should be thankful that ESMA have taken a pragmatic approach to moving things along, more bottlenecks could appear in the future.

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July 27, 2005

Fast Track

By Editorial Staff

(Traders Magazine, July 2005)

*JonesTrading Institutional Services was slated to open a Chicago office beginning on July 1. The new office 223 West Erie will be headed by Van Hutcherson, a former managing director at Goldman Sachs & Co in Chicago. Joining Hutcherson in the new office will be Drew Goss, formerly of Jefferies & Co., and Ray Murray and Brian Sasser, both previously in the JonesTrading Orlando, Fla. office.

*John Palazzo joined UNX in New York to start an agency program trading desk. Palazzo was most recently with Pulse trading, where he ran the trading desk for two years. Palazzo is also a veteran of Instinet.

*Ed Brandman joined BusinessEdge Solutions, N.Y., as a partner to head up its new capital markets practice.Brandman was most recently CEO of Renaissance Technologies, a division of Nyfix. Prior to that he was the CIO and head of electronic trading at the brokerage Robertson Stephens.

*Tom Richardson, Citigroup Global Markets' managing director of U.S. equities, became one of four directors on the board of the Chicago Stock Exchange.

*Frank Mangiafico joined ESP Technologies, N.Y., the parent company of Electronic Specialist, as executive chairman. Mangiafico is the former president and CEO of Merrill Lynch Professional Clearing Corporation.

*Morgan Stanley filled posts in its equity-trading department left vacant by a recent spate of executive departures. Fabrizio Gallo was named head of global customer trading. Gallo was previously based in Hong Kong as head of equity trading for Asia. Before that he was in charge of derivatives trading in New York.

David Memmott was named head of U.S. cash equity trading. Memmott replaces Robert Karofsky, who recently joined Deutsche Bank with seven other Morgan Stanley traders. Memmott has been with Morgan Stanley for nine years. He was previously in charge of all sector trading. Memmott will report to Gallo.

Also, Peter Heller became a sector head in charge of technology trading. Sutesh Sharma was named head of global proprietary trading. Kevin Dunn joined as a senior trader of consumer, transportation and retail stocks. Dunn was with Deutsche Bank. Pavel Golovinskiy joined Morgan Stanley's automated market-making team. The exec was with Goldman Sachs.

*GGET LLC recently opened a West Coast office in La Jolla, Calif. Phil McConkey, former football player at the U.S. Naval Academy and the New York Giants, is running the office. This marks the third office for the Greenwich, Conn.-based firm.

*Mark Wille joined the New York Stock Exchange as vice president, market development. Wille will be responsible for the NYSE's hybrid market initiative. He reports to Lou Pastina, senior vice president of market development and product manager for the hybrid market.

*Portware recently made two management hires, one in the U.S., the other in London. Stuart Adams joined Portware last month to head its London office as Director of European Operations. Adams, previously a managing director with AKJ, a technology firm, and before that Brut, will oversee the development of Portware's sales team and the development and support staff. David Nole was appointed COO in the New York office. Nole previously was COO and CFO at Vie Financial Group. Prior to that, he was at NYFIX.