Commentary

Tim Quast
Traders Magazine Online News

We're All HFTs Now

In this guest commentary, author Tim Quast looks back at the history of HFT and how the market has evolved to where many firms now fit the definition of high-frequency trader.

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April 15, 2009

People On The Move

By Editorial Staff

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  • People On The Move

JonesTrading has added to its U.S. sales force. It now has more than 90 traders with more than 15 years of experience, on average. Bernie Blaney joined the Boston office. Blaney will focus on client acquisition and increasing order flow. He will report to George Harrington, who heads the Boston office. Blaney has over 20 years' experience in the brokerage industry. He spent the previous 11 years as the head of sales trading in Lehman Brothers' Boston office.

Tom Niemeier joins Jones' New York office following 10 years each at Paine Webber and Morgan Stanley. Lou Matrone joins Jones' Dallas office from Rushmore Investment Advisors, where he was director of trading operations. Prior to RIA, Matrone held sellside positions at Pulse Trading, Southwest Securities and Dain Rauscher. He has been the president of the STA in Dallas and is the current secretary on the national STA board.


Jeanne Murtaugh has retired from BNY ConvergEx, where she was vice chairwoman emeritus. Murtaugh, a career strategic planner and marketing executive, started Wachovia Bank's brokerage division in the early '80s. She later moved to ESI Securities in New York, where she co-headed the company. Bank of New York bought ESI in 1997 and renamed it BNY Brokerage. The firm later combined with Eze Castle Software to become BNY ConvergEx. Murtaugh, who spent her career involved in electronic trading, connectivity, and commission and research management, will continue to advise emerging businesses. She also remains active in a number of charities, including Susan G. Komen for the Cure and the American Cancer Society. Murtaugh is a two-time survivor of cancer.


Shawn Matthews became chief executive officer of Cantor Fitzgerald & Co., a division of Cantor Fitzgerald L.P. Matthews was previously head of Cantor's debt capital markets group. In his new role, he will have responsibility for Cantor's debt and equity capital markets groups and its investment banking business. He replaces Phil Marber, formerly head of Cantor's equity capital markets group. The position of CEO of Cantor Fitzgerald & Co. has been vacant since Irvin Goldman left the firm in October 2007. Matthews' promotion reflects Cantor's rapid growth in fixed-income sales and trading over the past six or seven years. Marber, who began his career with Cantor in 1990 and ran equity capital markets for about a dozen years, will focus on strategy and recruiting.


Pali Capital, an independent firm offering full-service institutional brokerage, hired three sales traders. Kevin Scherer joined as an international equities sales trader in New York. Scherer traded international stocks at Citi and Smith Barney for the last 12 years or so. In San Francisco, Steve Kepler and Mark Gabhart joined as sales traders in the firm's new office. Kepler was an equity sales trader at Jefferies & Co. for 16 years, where he helped build the firm's West Coast effort. Gabhart joins from Pequot Capital Management; before that, he was a senior equities trader at Citadel Investment Group.


Christopher Edgar joined NorthPoint Trading Partners as a senior vice president of sales and marketing. Edgar will oversee sales in the Northeast for the boutique prime broker and is opening an office in New Canaan, Conn. He was previously a senior managing director at HedgeWorld, where he spent nine years. Edgar reports to Michael DeJarnette, NorthPoint's president, who is based in Atlanta.