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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September 28, 2006

Fast Track

By Editorial Staff

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*Kevin Petrello joined Lehman Brothers as a senior vice president and U.S. head of commission management in the liquid markets sales group. Commission management' was formerly known as Soft Dollars' at Lehman. Petrello was most recently head of relationship management at Citigroup's Lava Trading subsidiary. Before that, Petrello was a first vice president and regional sales manager at Instinet. At Lehman, he reports to Jon Giblin, theU.S. headof the market structure solutions group.

*Per Andersson joined electronic brokerage NeoNet in the newly created new position of global head of sales. Andersson joins NeoNet from Orc Software, where he was head of business development and strategic alliances, as well as global head of sales. Prior to Orc, Andersson held management positions within OMX Technology, where he established the London sales and support business for member applications. At NeoNet, Andersson will report to Simon Nathanson, NeoNet's chief executive.

*Matt DeSalvo joined Credit Suisse as managing director, where he oversees U.S. equity trading, with both sales trading and trading reporting to him. DeSalvo, who spent more than two decades at Morgan Stanley in New York, reports to George Coleman, who heads global sales trading, and Todd Sandoz, who heads global trading.

*Ray Tierney joined Morgan Stanley Investment Management as global head of equity trading. Tierney was previously in charge of North American sales trading on Morgan Stanley's equities trading desk. Tierney had been with Morgan Stanley since 1994. Replacing Tierney on the sales trading front is Michael Schaftel.

*Merrill Lynch promoted Rohit D'Souza to the newly created position of head of global equities and Americas global markets, global markets and investment banking. D'Souza is responsible for all equity sales and trading activities globally, as well as all debt and equity businesses in the Americas. D'Souza had been head of global equity markets with responsibility for all trading and sales-trading activities for cash equities, equity-linked products, strategic trading, and all of the global equity financing and services businesses. He joined Merrill in October 2004 from Morgan Stanley. Concurrent with D'Souza's promotion, Doug DeMartin, the former head of institutional equity and debt sales, left Merrill.

*Glenn Lesko joined Instinet as head of U.S.-based international sales and trading. Lesko will oversee all sales and trading efforts for Instinet's international trading desk in New York. He will also work closely with the firm's agency-trading desks in Asia and Europe. Lesko joined Instinet from CF Global Trading, where he had served as partner since 2003. Before that, he spent two years at Deutsche Bank, directing the firm's international trading desk. Prior to that, he spent 10 years at ABN AMRO and its affiliates. There he first headed its Asian trading desk in Hong Kong and later its international trading desk in New York.