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May 9, 2008

People On The Move

By Editorial Staff

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  • People On The Move

Robert Arancio takes the reins as president of the Security Traders of New York (STANY). Arancio, head of trading at Neuberger Berman, replaced Stephen Kay, Knight Capital Group, as STANY's leader.

A sellside trader at Lehman Brothers for most of his career, Arancio was featured in a Traders Magazine story last month in which he discussed a number of topics, including STANY's priorities during his tenure, as well as the evolution of trading and his move to the buyside last year.

 

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On trading technology: "Every major bulge bracket firm has a multitude of choices for execution, but you have to know which tool is working in which [type of] market," said the former co-head of liquid markets at Lehman.

He also said he thought liquidity was harder to get in the days of Nasdaq, when it was a dealer market in practice as well as in name. "There was less volume. Liquidity was more of an issue than it is today. It was a much harder market to execute in," he said. Arancio also said traders need to increase their understanding and knowledge of other asset classes beyond equities.


Credit Suisse promoted Rob Maher to head sales in Europe for its electronic trading group, AES. Maher, who joined the firm in 2002, had headed AES sales on the West Coast since 2006.

In London he reports to Naseer Al-Khudairi and Gerry Keneally for distribution, and to Manny Santayana, who heads global sales for AES in New York.


Mike Towey joins Pali Capital as co-head of U.S. equities. Towey, formerly head of U.S. equity trading at CIBC World Markets, will run the group with Kevin Fisher, who has been with Pali Capital for 10 years. Towey was co-head of U.S. equity research at CIBC before becoming the head of equity trading there.


David Nardi and Peter Feder join WJB Capital Group as senior sales traders in the New York office. Nardi, who spent 13 years as a trader at Goldman Sachs, joins from Wachovia Securities, where he traded energy stocks. Feder was previously a sales trader at A.G Edwards. Before that, he spent more than 12 years at Brown Brothers Harriman as senior sales trader.


Gordon Charlop joined Rosenblatt Securities as a managing director in charge of the firm's New York Stock Exchange floor operations. Charlop was formerly president and chief executive of agency brokerage WJ Dowd. He is also a former NYSE floor Official. Prior to joining WJ Dowd in 1990, Charlop was a clerk at H.J. Meyers and a trading assistant for Bear, Stearns & Co. on the American Stock Exchange. At Rosenblatt, he will oversee a floor staff of nine people.


Brian Kenney joined Stanford Group Company as a senior vice president and senior sales trader. Kenney, a veteran of more than 16 years, was most recently at E*Trade Capital Markets. He reports to Rich Parker, who heads institutional equity trading.