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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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January 1, 2013

On the Move

By Editorial Staff

Also in this article

Who's moving on the Street in equities and derivatives? Traders Magazine's OTM--On the Move--brings that info right here.


If you've gotten a new job or promotion, let us know at

Paul Jiganti moved to TD Ameritrade to head market structure strategy and exchange issues, filling a post left vacant since the departure of Chris Nagy. Jiganti previously worked for Nasdaq OMX Group in the development of an index options product. Before that he spent 16 years at Susquehanna International Group as an options trader and manager. Jiganti is based in Chicago and has worked closely with the Chicago Board Options Exchange on trading issues and systems.

Rainier Investment Management has hired sales trader Matt Steadman. Steadman, a 14-year veteran, is part of the trading team responsible for the implementation of order execution and trading processes across Rainier's various investment strategies, including international trading. Most recently he was at Chinook Capital Management, where he launched a new trading desk. Prior to that, he spent eight years at Wells Capital Management in Portland, Ore. He reports to Justin Kane, director of equity trading.


Portland, Maine-based Spinnaker Trust hired Rob Felvinci as its director of portfolio management and trading. Felvinci, a 21-year professional, is on the investment committee and trades all assets and products, as well as managing portfolios. The firm has $1.3 billion in assets under management. Prior to Spinnaker, Felvinci spent his entire career at AllianceBernstein in several roles, including head of program trading, head of equity derivative trading and co-head of trading for the Americas. He reports to Sara Lewis.

NYSE Euronext hired Stacey Cunningham as vice president for U.S. relationship management in its equities products and services group. Cunningham, a 16-year pro, was the former head of U.S. equities sales at Nasdaq OMX Group's trading business. This comes on the heels of Nasdaq hiring Manny Santayana as her successor there. Cunningham joined Nasdaq OMX Group in 2007 as director of capital markets. Previously, she was vice president of trading at Banc of America Specialists for five years.

Alternative trading system Aqua Securities recently hired four people to its institutional sales team: Lauren Sbordone, Beth Hamburger, Robert Smock and Jamie Petraglia. All joined as senior institutional sales managers.

Sbordone is focused on running Aqua's broker-dealer business. Prior to this, she worked at Archipelago Holdings until its acquisition by NYSE Group, serving as a director managing a diverse account base and focused on client relationships. She was also a broker with Quick & Reilly Inc.

Hamburger is charged with growing clients in the northeast region. She was a founding member and senior sales and relationship manager at Bloomberg Tradebook, where she managed institutional relationships across multi-asset classes covering broker-dealers and registered investment advisors. She has also served as a director at the Security Traders Association of New York since 2006.

Petraglia is focused on building buyside relationships on the West Coast. He comes from ITG, where he was a director and led a sales trading team and developed a new trading system for institutional clients. Prior to that, he was a founder and managing director at White Cap Trading, a co-head of trading at Archipelago Holdings and a sales trader at Bear Hunter Specialist.