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September 1, 2011

On The Move

By Staff Reports

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Michael Stewart will join UBS as co-head of global equities and head of the securities Americas division in October. He is currently with Bank of America Merrill Lynch on "gardening leave." At BAML, Stewart was co-head of global equities, and before that, global head of cash equities trading. At UBS, Stewart will replace Yassine Bouhara, who will head emerging markets. Stewart will be co-heading global equities with Francois Gouws.



Doug Leo joins Raymond James as a managing director and head of commission management. Leo, a 17-year pro, will be responsible for building the firm's commission management business. He was head of commission management at Thomas Weisel Partners for the last two years. Prior to that, he worked as a senior salesperson and in commission management at Lehman Brothers for 15 years. He reports to Dan McMahon, head of equity trading.



Glenn Starkman joins Dahlman Rose & Co. as the new global head of sales trading. A 27-year industry veteran, Starkman previously held the same position at Knight Capital Group. He also spent nine years at UBS, and prior to that worked at Goldman Sachs and Sanford C. Bernstein. He reports to chairman and chief executive officer Kim Fennebresque.



Joe Rothman joins institutional broker WallachBeth Capital's Delta One group in sales and trading. A 10-year veteran, Rothman was most recently at Ballista Securities in sales and trading. Ballista specialized in the electronic trading of options orders and was recently acquired by IntercontinentalExchange. Prior, Rothman was an equity derivatives salesman and trader for I.A. Englander & Co.



Thomson Reuters Markets' sales and trading division expanded with the hiring of two key executives. Shanker Ramamurthy, a veteran of more than 20 years, joins as president of the group, which provides traders with technology and services. He came from IBM's global banking and finance business. He reports to Devin Wenig, chief executive officer of Thomson Reuters Markets. Also joining is Bill Harts, who was named chief strategy officer. Harts is a pioneer in electronic trading who has developed several important systems over the years. He was previously with Bessemer Venture Partners, where he had been an operating partner for the past two years. He reports to Ramamurthy.



Wells Fargo Securities started a program trading desk, hiring four traders based in New York. They are Haresh (Harry) Rana, Michael Lee, Chris Johnson and Kevin Kennedy. Rana, with 20 years of trading experience, heads the desk. He joins Wells Fargo from J.P. Morgan, where he was executive director of the Delta One trading group. Prior to that, he worked in portfolio trading at Lehman Brothers and at Barclays de Zoete Wedd. Lee came from J.P. Morgan's Delta One trading group. There, he was responsible for program trading risk and index arbitrage. From 1999 to 2005, he worked in program trading at Lehman Brothers. Johnson join Wells Fargo as head of program trading sales from Weeden & Co.'s program trading group. Prior to that, he was a director in the program trading group at Merrill Lynch, where he spent seven years. Kennedy joins Wells Fargo Securities as a director in the program trading sales group from Deutsche Bank, where he was director. The new hires will report to Matt Brown, head of cash trading.