Momtchil Pojarliev
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Some Like It Hedged

BNP Asset Management's Pojarliev discusses a variety of options to address foreign currency exposures. Although there is no single best-practice solution for addressing foreign currency exposures, institutional investors have three main choices, he says.

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January 3, 2006

Fast Track

By Editorial Staff

*Knight Capital Markets appointed Jim Smyth to run its broker-dealer group. Smyth, a senior managing director, previously ran Knight's soft dollar operation since 2002. A 20-year Merrill Lynch veteran, Smyth ran Merrill's Broadcort Capital's clearing business before joining Knight.

*Yassine Bouhara, Deutsche Bank's head of global equity derivatives, will now run cash equities trading globally as well. Bouhara, based in London, joined Deutsche Bank in early 1996. Ralph Reynolds, global head of cash equities trading since 2002, will become global head of equity proprietary trading and will relocate to New York. Reynolds joined Deutsche Bank in 1998.

*Instinet made four hires. Joelle Martin and Audrey Barsa joined as account executives in the execution consultant sales group. Martin joined from the Federal Reserve Bank in Dallas. Barsa was previously a VP in execution services at Brown Brothers Harriman. Both had previously worked at Instinet. Ted Daunno and Neil Pardo joined as account representatives in new sales. Previously, Daunno was an international financial advisor at Merrill Lynch. Pardo worked at Nomura Securities and Banc of America Securities after 13 years at ITG.

*Betsy Coyne joined Pipeline Trading Systems as the director of sales for the firm's new Boston office. Coyne works with Don Cottage, the firm's managing director of sales. Coyne was previously the head trader at buyside shop Columbia Management and its predecessor, Fleet Investment Advisors.

*Tom Kane joined Tradeware Global as a senior sales representative. Kane, who previously headed sales at Harborside+, will work out of both the New York and Boston offices. He reports to Cody Callihan, head of sales.

*Morgan Stanley named Andrew Pipa as interim head of proprietary trading for North America. His posting follows the departure from Morgan Stanley of Sutesh Sharma, global head of proprietary trading. Also, Mike Frydman and Lars Lemonius were named as interim heads of proprietary trading for Asia and Europe, respectively, at Morgan Stanley.

*Ralston Roberts joined Sungard Trading Systems/Brass as a senior vice president, product management. Roberts was recently chief technology officer for Wells Fargo Securities.

Prior to that, he was trading desk application manager at Robertson Stephens. At SunGard, Roberts will shape the tactical and strategic direction of the BRASS solution suite.

*Mark Montgomery joined buyside order management systems vendor LatentZero in London as global business development director. Montgomery previously worked in sales trading at Investment Technology Group and Hoenig.

*Ross Stevens joined Jefferies Group as head of electronic trading services. Previously, Stevens worked at Banc of America Securities. There he most recently served as the head of electronic trading services for global markets and previously as chief operating officer for equities.

*Dean Stamos joined order management vendor Advanced Financial Applications as head of business development, marketing and sales. Stamos was most recently a manager in Piper Jaffray's algorithmic and program trading operations. Prior to that, he was CEO of VIE Financial, a publicly traded broker-dealer and technology firm. Stamos also co-founded NYFIX Millennium, an ATS for NYSE-listed securities.