Commentary

Elaine Wah

Modern Markets, Modern Metrics - A Blog By IEX

In this blog by IEX's Elaine Wah, the newest public exchange looks to refute public claims that the metrics it uses are designed to inflate its own volume numbers and mislead people.

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February 24, 2006

Fast Track

By Editorial Staff

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  • Fast Track

*Mary Schapiro succeeded Robert Glauber as chairman and chief executive of NASD. Schapiro ran the NASD's regulation unit from 1996. Before that, Schapiro was chairman of the Commodity Futures Trading Commission and was previously a commissioner with the Securities and Exchange Commission.

*Scott Burrill joined Rosenblatt Securities as director of product development and analytics. Burrill has worked as head of trading strategies at Russell Investment Group; as a portfolio manager of both active and indexed assets at CalPERS; and as director of trading at Westpeak Global Advisors. At Rosenblatt, Burrill will develop algorithms, pre-trade and post-trade analysis and statistical and optimization techniques.

*Bill Tanona joined Goldman Sachs to lead the firm's research coverage of U.S. brokers, asset managers and market structure. Tanona most recently worked as an analyst covering the securities industry at JPMorgan Chase. At Goldman, Tanona will lead a team of analysts while focusing on brokerage houses.

*Thomas Fisher recently joined Radnor Research and Trading's institutional group as a vice president and senior registered options principal. He previously held the same position at Quaker Securities, where he spent 12 years.

*Stanford Group Co. announced the addition of three former Well Fargo Securities sales traders to its recently relocated Boston office. They are Lou Orlando, a 26-year industry veteran who also traded at WR Hambrecht & Co.; Tom Wilkinson, a 20-year veteran who also worked at Vandham Securities; and Tom Daniels.

In addition, Nicholas Padula, an industry veteran of 25 years, joins the firm's San Francisco office as a sales trader. Padula, most recently with JMP Securities, is the former manager of West Coast accounts at Schwab Capital Markets.

*San Francisco's Nollenberger Capital Partners is building an equity trading operation. Seven traders have joined from Wells Fargo Securities, which shut down its trading desk last year. Todd Clark is running the Nollenberger operation. He previously headed trading at Wells. Jeff Phillips and Andy McMahon are position traders. Phillips ran OTC trading at Wells. Former Wells sales traders now at Nollenberger are Doug Princiotta, Bill Brennan, Bill Mortell and Peter Andorfer. The latter works in New York.

*Rick Petrone was promoted to executive vice president and director of sales and trading at Domestic Securities. Petrone, previously with Schwab Capital Markets, joined the firm three years ago as manager of sales. Recent hires at the Edison, N.J. office include: Gerry DeCaro, previously with Knight Capital Group, who joined as vice president of international broker-dealer sales; Lou Piro, formerly of Jefferies & Co., who joined as a sales trader, covering broker-dealers; and Terri DeLouisa, previously with Fulcrum Global Partners, who also joined as a sales trader.

*Bob Williamson joined Advanced Financial Applications (AFA) as vice president of broker-dealer sales. Williamson, a 20-year Wall St. veteran, was previously with NYFIX, where he was a senior vice president. He rejoins his former boss, Dean Stamos, a managing director at AFA, which offers trade order management and trading solutions.

*Michael Earlywine joined Robbins & Henderson on the floor of the NYSE as director of electronic trading. He was previously with LaBranche Financial where he was a sales trader.