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David Weisberger
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Stop the BS & Promote Real Transparency!

In this shared blog, David Weisberger says a recent WSJ article is wrong and that traders do need to purchase faster and more comprehensive market data to avoid being fined for violating "Best Execution" obligations.

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August 1, 2012

On The Move

By Editorial Staff

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  • On The Move

>>Philip Cushman returns to Cowen & Co. as head of equity sales, where he began his career in the 1990s. Cushman, a 20-year veteran, is responsible for growing Cowen's sales of its equities products. He comes from Jefferies & Co., where he spent the last six years, most recently as head of global equity product management and a member of the firm's equity operating committee. He reports to Tom O'Mara and Dan Charney, co-heads of equities.


If you've gotten a new job or promotion, let us know at onthemove@sourcemedia.com


>>Jennica Ross and Randy Scharringhausen join WallachBeth Capital. Ross, a nine-year pro, joins as a director and strategic relationship specialist. She was most recently a director for the strategic relations group at Guggenheim Funds Distributors, after a five-year stint as director of equity syndicates sales and marketing at UBS Financial Services.

Scharringhausen, a 17-year veteran, signed up as an institutional equity derivatives sales trader, focusing on options and merger arbitrage. He began his career as an options market maker at the American Stock Exchange and later became head of New York floor trading for Knight Capital Group. He joins WallachBeth from his own options brokerage and research firm, Capstone Global Markets.


>> Sales trader Kevin McCarthy and sales pro David Donovan join B. Riley & Co. at its newly opened Boston office. McCarthy, a 20-year veteran, comes from Detwiler & Fenton, where he was a managing director and sales trader. He has traded at Gleacher & Co., Pali Capital, Susquehanna Bank and Thomas Weisel. He reports to Knut Grevle, director of equity trading.

Donovan, a 15-year vet, comes from Detwiler & Fenton, where he was in institutional sales. He has done stints at Bank of America, Susquehanna Bank and Gleacher & Co. Jonathan Mordoh, a 26-year pro, joins B. Riley at its New York office and comes from Think Equity, where he worked in sales. He began his career at Salomon Brothers trading equity derivatives and later moved to institutional sales. He reports to Andy Moore, director of institutional equity sales.


>>Mark Koczan joins Raymond James as a senior vice president and sales trader in its equity sales trading group. Koczan, a 20-year veteran, spent the last five years at Morgan Keegan. He started his career on the floor of the New York Stock Exchange with DLJ as a floor trader. He has done trading and sale stints at NatWest Markets, Dresdner Kleinwort and Advest. He reports to Paul Powers.


>>Kent Christian, head of Wells Fargo Advisors' financial services group, has been named president of the firm's Financial Network, or FiNet, the broker-dealer affiliate through which it supports independent financial advisors. In his new role, he will report to Brand Meyer, president of Wells Fargo Advisors' independent brokerage group. A 29-year industry veteran, Christian joined Wells Fargo in 2005. Before that, he was the national sales director for Raymond James Financial Services. Earlier in his career, he worked for PlanMember Financial and Bank of America.


>>Robert Manning joined Evercore Partners as a sales trader handling real estate investment trusts. Manning was previously a sales trader with Keefe, Bruyette & Woods. He joined Evercore with two other REIT specialists from Keefe Bruyette.