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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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May 10, 2006

Fast Track

By Editorial Staff

*Dick Felegy retired from Morgan Stanley Asset Management as director of equity trading. Felegy was a frequent speaker on industry panels and also sat on a number of advisory boards during his career. Before moving to New York in the mid-1990s to head the trading desk at Dean Witter Advisors, Felegy ran trading at Mellon Bank in Pittsburgh for a number of years. Morgan Stanley had not named his replacement at press time.

*Joe McDonnell joined Oppenheimer Funds as a senior trader on the international desk. McDonnell, who previously headed U.S. and international sales trading at Lehman Brothers, reports to Keith Spencer, director of global equity trading at Oppenheimer Funds, which manages $220 billion in equities.

*Ken Worthington joined JPMorgan Chase as an analyst covering the securities industry. Worthington was previously an analyst with CIBC World Markets. The analyst replaces Bill Tanona, who joined Goldman Sachs.

*Dan Keegan joined Automated Trading Desk (ATD) as executive vice president and will head the wholesaler's expansion into the institutional marketplace. Keegan held key positions during his tenure at JP Morgan, including running Electronic Execution Services, U.S. Sales Trading and Transition Management for Equities, North America.

*Matt Meinel joined 29West as global director of business development. Meinel most recently worked as a consultant. Previously, he worked in the information technology divisions of UBS.

*Joseph Sellitto last month joined Susquehanna International Group as marketing director for listed options. Sellitto, a 21-year veteran at Morgan Stanley, where he oversaw the firm's options floor operations, had most recently been a director of derivative products at E*TRADE Financial Corp.

*Robert Cavallaro founded Smithtown Capital, a hedge fund based in Pipersville, Pa., specializing in quantitative value strategies. Cavallaro was previously with the CooperNeff Group, a global proprietary trading and hedge fund manager owned by BNP Paribas, where he spent 16 years. At CooperNeff, Cavallaro had responsibility for a quantitative equity strategies product line.

*Matt Celebuski joined Bear Stearns as a senior managing director and product manager for equity analytics and systematic trading (EAST). The group provides algorithms, trade cost analytics, trading systems and research to Bear's trading desks and clients. Previously, Celebuski was a managing director at JPMorgan, where he ran several business units including portfolio trading, risk trading, transition management and algorithmic development. Before JP Morgan, Celebuski worked at Merrill Lynch where he ran proprietary trading, risk trading and transition management.

*Nick Karos (Photo) and Dan Wolff recently launched Private Trading Group, an agency execution firm in Minneapolis. The two long-time OTC traders are focusing on institutions, both mutual funds and hedge funds. Karos previously headed all OTC trading at Piper Jaffray. Wolff was previously head of equity trading at Pacific Crest Securities in Portland.

*Gary Ardell joined BNY Securities Group to run its newly formed Financial Engineering & Advanced Trading Solutions (FEATS) unit. FEATS focuses on development of trading tools and technology for institutional clients. The unit includes about 15 quantitative analysts, programmers and IT specialists. Ardell was most recently vice president of financial engineering at Fidelity Capital Markets.

*Bob Mezey (Photo) and Michael Dobin recently joined Maxim Group's Red Bank, N.J. office as sales traders. Mezey and Dobin previously were sales traders at William V. Frankel in Jersey City, before moving to Maxim, a firm that makes markets in 4,000 stocks.

*Roger Peterkin recently joined selliside OMS provider Arrowhead Solutions, Boston, as head of sales and marketing. Peterkin was previously with Fetter Logic, a Denver-based technology provider to broker-dealers. Peterkin reports to Bob Mahoney, who heads the company.