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June 18, 2008

People On The Move

By Editorial Staff

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  • People On The Move

After a career of 35 years in the options industry, David Krell was recognized for helping transform the industry that raised him. Krell, former CEO of the International Securities Exchange and co-founder, with Gary Katz, of the exchange that helped force the options industry to embrace multiple listings and electronic trading, received the Joseph Sullivan Award from the Options Industry Council in Las Vegas last month. In his acceptance of the award, he said of the ISE, "We created intermarket competition."


Trading execs Ray Tierney, of Morgan Stanley Investment Management, and Matt DeSalvo, of Credit Suisse, were named co-chairs to the Wings Over Wall Street Executive Committee for 2008.

Also, this year's Beier Award will be presented to Mary McDermott Holland, who heads trading at Franklin Portfolio Associates, at the MDA/ALS Wings Over Wall St. gala on Sept. 25. The Muscular Dystrophy Association holds Wings as a benefit to fund amyotrophic lateral sclerosis research. It presents the Michael P. Beier Award-named in honor of former Wings chair Michael Beier-to someone who inspires, encourages and motivates others to find a cure for ALS.

"Mary has demonstrated a can-do attitude during past Wings fundraisers," said Lisa Utasi, a senior trader with ClearBridge Advisors and a past Wings committee co-chair. "She exudes the same positive spirit that Michael Beier gave us in continuingthe fight against ALS."


Michael McCarty joined newly formed money manager Duff Capital Advisors as head of trading in the firm's Greenwich, Conn., headquarters. McCarty, a 16-year veteran in derivatives and program trading, was previously head of U.S. portfolio trading at Morgan Stanley. Before that, McCarty founded the Delta-One trading group at Credit Suisse.


Richard Balarkas joined Instinet Europe as president and CEO. He joins from Credit Suisse in London, where he headed sales for the firm's electronic trading suite of products, AES.


Dr. Eran Fishler joined trading algorithm provider Pragma Financial Systems as vice president of quantitative engineering. Fishler, previously with Hite Capital Management, will lead development of short-term risk models and algorithms. He reports to Dr. Peter Fraenkel, Pragma's director of quantitative services and head of the quantitative engineering group.


New York-based Pali Capital has hired three international traders and two senior sales traders from Jefferies & Co. Brad Marks, who formerly headed international trading at Jefferies, will join Pali to run its international effort in New York. International traders Mike Montalbano and Charles McLaughlin also will join Pali. Both will report to Marks.

Ed Bralower and Michael Hock, both with more than 20 years' experience, will cover accounts from Pali's suburban New York offices-Bralower in Connecticut, Hock in New Jersey.


WJB Capital Group hired three sales traders in its New York office. They include: Peter Feder, a 28-year veteran who spent the previous seven years at A.G. Edwards, covering middle market accounts in New York; Tom Campbell, a 22-year veteran who recently came to the WJB from Wedbush Morgan Securities; and Brian Ferguson, who has been hired as an institutional sales trader. An industry veteran, Ferguson has been a a sales trader at GFI Group, as well as a trader and portfolio manager at RBC Capital Partners on the buyside.