Momtchil Pojarliev
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Some Like It Hedged

BNP Asset Management's Pojarliev discusses a variety of options to address foreign currency exposures. Although there is no single best-practice solution for addressing foreign currency exposures, institutional investors have three main choices, he says.

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June 1, 2010

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Raymond Tierney III was named chief executive and president of Bloomberg Tradebook. Tierney, a 29-year veteran, joins from Morgan Stanley Investment Management, where he headed the money manager's global trading effort. After joining MSIM in 2006, he restructured the firm's trading process and introduced electronic trading and analytics. The changes were featured in a Traders Magazine cover story in February 2008. Before joining MSIM, Tierney spent his entire career on the sellside, including 12 years at Morgan Stanley in a sales capacity. He was named a managing director in 1998 and was later tapped to head U.S. cash equities distribution, a position he held from 2003 until 2006. Earlier in his career, he worked at Paine Webber before moving to Credit Suisse and UBS, respectively. Tierney is a member of NOIP and is a past co-chairman of Wings Over Wall Street.



George Hessler was named chief executive officer and president of Stock USA, which trades equities and equity-linked securities. Hessler, a 25-year veteran, oversees all areas of the firm's operations, including its core electronic trading business.Prior to joining, Hessler spent three years at Lime Brokerage overseeing electronic trading and six years at Lava Trading as senior vice president. At Lava, Hessler held several positions, including head of marketing, director of sales and head of strategy. At Stock USA, he reports to Guy Gentile, the company's chairman.



Liquidnet hired two executives for its Boston office. Bill Donnelly joins as a senior relationship manager. Donnelly, a nine-year veteran who spent most of his career at Lehman Brothers, joins after a year at Pragma. Brian Williamson, a longtime trader at money manager The Boston Co., is responsible for proprietary research and product development. Both report to Alfred Eskandar, head of U.S. equities.



Robert McHeffey joins Newedge in cash equities sales. McHeffey, a 24-year veteran, was previously with Schooner, a hedge he co-founded. Schooner employed a quantitative market neutral strategy. He reports to Mark Viani, who heads trading.



Cheevers & Co. added Mark Emola and Robert Markulin to its trading desk in Chicago. The two have more than 30 years experience between them trading both domestic and international stocks. Emola was previously with Cabrera Capital Markets. Markulin was previously the head trader at Cabrera Capital Markets and Melvin & Co.



Geffery Gioia joins Wunderlich Securities as a sales trader in Cleveland. Gioia, a 17-year industry veteran, is a senior vice president. He was a founding member in 1996 of Midwest Research, which became FTN Equity Capital Markets. Gioia reports to Steve Iskalis, who is in the firm's Denver office.



Doug Hurry joins SunGard as a salesman. Hurry, a 10-year veteran in electronic trading sales, spent his last two years at TraderForum, where he ran its U.S. and European conference business catering to buyside equity traders. At SunGard, he will be selling its order management product and brokerage services. The move marks his return to SunGard, as Hurry worked for the Brut ECN, which SunGard sold to Nasdaq in 2004.