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June 2, 2009

People On The Move

By Editorial Staff

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  • People On The Move

Chris Concannon joined New York-based Virtu Financial, a newly formed proprietary trading firm, as a partner. Previously, he led Nasdaq OMX Group's transaction services unit, which oversees the parent company's U.S. equities and options markets, as well as the European multilateral trading facility. He joined the exchange in 2003 from Instinet Clearing Services. While at Nasdaq, Concannon oversaw and integrated numerous acquisitions, including those of BRUT and Instinet, as well as the Philadelphia and Boston stock exchanges. He also increased the exchange's market share in the trading of NYSE-listed securities. Additionally, he oversaw the launch of two new markets: Nasdaq OMX Europe and the Nasdaq Options Market.


Michael Pascuma, likely the oldest living stock trader in the U.S., reached the milestone of turning 100 years old in April. His 80-year career began before the Crash of 1929, when traders still called the American Stock Exchange "the Curb." He left the floor two years ago-at age 98. In his time, mostly spent at the Amex, he's had front-row seats to Wall Street's many booms and busts. He also lived through the Great Depression and served in World War II. Through all the change, Pascuma has retained some constants: his buy/sell pad, his passion for horse racing and apple turnovers, his subway commute and his home in Queens.


Don Cottage joined Bridgeport, Conn.-based AltruShare Securities as a managing director of sales. Cottage, a 21-year veteran, spent his last five years as a managing director of sales at Pipeline Trading. There, he worked on the system's launch. At AltruShare, he reports to managing partner Peter Drasher.


Pali Capital expanded its Boston office with three new sales traders. The new hires are Barak Shibles, a 12-year veteran who joins from Deutsche Bank as a director; Chris Pillsbury, a veteran of 10-plus years, who joins as a director from Bank of America in Boston, where he was a principal and head of sales trading; and Frank Casey, with more than a decade of experience, who joins as a director from Susquehanna Group. They report to Dennis Leddy, who runs the Boston office.


CastleOak Securities hired two traders. Daniel Doo joined as a managing director and will focus on the development of portfolio and index trading. Doo previously ran the index arbitrage proprietary trading desk at Nomura Securities. Gamal Walker joined as a director and will focus on the expansion of the firm's agency trading business. Previously, he was a senior trader at Banc of America Securities and Citigroup. CastleOak is a minority-owned investment bank based in New York.


Deborah Mittelman joined Lime Brokerage as a director of products for U.S. equities. She will manage Lime's products that specialize in automated and high-volume electronic trading strategies. A 24-year industry veteran in business development, compliance and technology, Mittelman moved over from Townsend Analytics. There, she led the product management division for Townsend's RealTick execution management system for the past two years. She is based in New York.