Commentary

John Turney
Traders Magazine Online News

Foreign Exchange Infrastructure: Yesterday, Today and Tomorrow

In this exclusive to Traders Magazine, John Turney, Global Head of Outsourced FX at Northern Trust, discusses the evolution of the fx infrastructure and what is to come.

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November 11, 2008

People On the Move

By Editorial Staff

Also in this article

  • People On the Move

A number of former sales traders at Bear Stearns' agency desk-Bear XO-started an institutional trading group at Lighthouse Financial Group in New York. Lighthouse Financial is a niche investment bank that also manages money for professional athletes. Rob Weinstein oversees the team of sales traders. The other Bear Stearns alums include: Mike Nethercott, Dave Navarro, Todd Paikin, Jess Mogul, Todd Bertsch, Russ Greenspan, Asher Koenig and Anthony Conde. Lighthouse recently signed an exclusive agreement with research provider Matrix, U.S.A.


Deborah Kase joins Chicago-based Electronic Brokerage Systems to run the firm's New York office. Kase, a veteran of nearly 30 years at BNY Brokerage and covering accounts on the buyside and sellside, was most recently a managing director at TradeTrek Securities. At Electronic Brokerage Systems, a division of Belzberg Technologies, Kase oversees a staff of 20 in sales and trading.


Belzberg Technologies' Electronic Brokerage Systems hired four investment pros. New sales director Robert Stanley arrives from Trade Station, after nine years as head trader at B-Trade Services. Anthony Stamos joins as a director in sales from Interactive Brokers' Future Trade. There, he was the director of sales for the past two years. Chris Yuknek joins to head the firm's program trading desk. For the past seven years Yuknek was a program trader at Prudential Equity Group. New sales trader Mark Schneid joins Electronic Brokerage Systems from Jefferies & Co., where he was an equity trader for the correspondent desk for the past five years.


UBS has hired three sales traders, including two former Bear Stearns alums. Sean Grady, a former managing director and 15-year veteran at Credit Suisse, joins UBS in New York as an executive director. Grady reports to William Ackerman, head of New York sales and trading. Andre Dore, a 22-year veteran of sales trading at Bear Stearns and former professional hockey player, also joins as an executive director. Nicholas Struk, a 13-year veteran and former senior managing director at Bear Stearns, joins as an executive director. Both Dore and Struk are based in Stamford and report to Brian McGinn and Brendan Grady, who co-head sales trading in Stamford.


Sales traders William Boyle, James Smith Jr. and Ryan Murphy have joined D.A. Davidson & Co. to open a new Boston office. Boyle, a veteran of more than 25 years experience in both domestic and international markets, joins as a managing director and runs the office. Smith, previously with Broadpoint Securities, joins as a vice president and senior sales trader. Murphy, an eight-year veteran previously with RBC Capital Markets, joins as a vice president and sales trader.


FBR Capital Markets hired two sales traders previously with Bear Stearns. Jon Jensen will be the co-head of sales trading in Boston. Michael Derby will be a senior vice president of sales trading in New York.


Tom Kane, a 20-year industry veteran, has joined Rosenblatt Securities as a salesman to develop institutional brokerage relationships and to build a client base for its exchange and market-structure analysis. Kane, previously with NYFIX, covers the Northeast and Canada.


Agency brokerage BTIG hired two traders from Jefferies & Co. to staff a new office in Los Angeles. James McKenzie and Kenneth Morgan were senior traders at Jefferies. At BTIG they will be responsible for managing the office, covering significant local and global accounts and recruiting personnel.