CIBC World Markets is shuffling leaders within its equity sales and trading team, parting ways with two top names in the process. Mark Ernst, formerly the head of institutional equity sales, and Larry Acton, formerly the head of institutional equity trading, are no longer with the bank. In their place, Quentin Broad will take over institutional equity sales. Before this, Mr. Broad was head of research. Rob Sedran, currently CIBCs bank analyst, is being promoted to lead the research team – but he will keep his banking duties.
If you have a new job or promotion, let us know at onthemove@sourcemedia.com
Profit & Loss reported that Rob Maher has left his position as global head of electronic markets at Nomura. Although a spokesperson for the bank declined to comment on the news, sources indicate that Maher, who was appointed as a managing director at Nomura in New York in March 2014, has left the firm. Prior to joining Nomura, Maher worked as a managing director and global head of fixed income electronic sales at Credit Suisse, also based in New York. Before that, Maher was a principal at wealth management advisory, Robertson Stephens, in San Francisco for over two years. He has also had spells at JP Morgan and Fidelity Investments.
Jeremy Smart is set to start at XTX Markets as head of Sales – leaving RBS as its Head of Fixed-Income Electronic Distribution. XTX is an electronic market maker in oreign exchange, commodities, derivatives and equities. Prior to RBS in 2012, he worked at Morgan Stanley as its Head of Fixed Income Electronic Distribution in Europe, Middle East, and Africa (EMEA) region, dating back to 2005.
SEC Alumni and ex-Commissioner Dan Gallagher has been appointed as a non-executive director of the Irish Stock Exchange (ISE).Gallagherhas also been appointed as Chair to the ISEs Rules Committee and will act as a legal, regulatory and capital markets expert on the ISEs Regulatory Panel.
CLS Group (CLS), a provider of risk mitigation and operational services for the foreign exchange market, appointed Alan Marquard to lead the firms new Corporate Strategy and Development division. In his new role, Marquard oversees all aspects of corporate strategy and planning, product development and management, relationship management and CLSs activities across Asia. He retains his role as General Counsel and representative for all legal matters to CLSs Executive Management Committee and the CLS Group Board. He is based in London and reports to David Puth, Chief Executive Officer.
MayStreet, an emerging tech firm specializing in next-gen market-access and analytics software for capital markets firms, hired David Streltsoff, a former director at KCG Holdings (Knight Capital) and Citadel, as head of business development and a member of the firms senior management team. He comes from Citadel where Strelsoff worked in the San Francisco office serving as a director, driving enterprise-wide sales, marketing and business development of agency algorithmic trading tools. He had the added responsibility of growing the electronic trading unit, focusing on third-party external clients, targeting institutional buy-side and sell-side firms. Prior to Citadel, he was a director in Knight Capitals KnightDirect unit, part of KCG Holdings in Jersey City, responsible for firm-wide sales and marketing of algorithmic trading tools, direct market access (DMA), agency program trading and Transaction Cost Analysis (TCA). Earlier, he was director of sales and marketing, financial research, at Frost & Sullivan in New York.
AX Trading added Tom OMara to the firms Advisory Board. OMara began his career trading Convertible Securities at Lehman Brothers from 1986-1991, where he was part of the team that transformed its retail-based distribution desk into an institutional market maker and underwriter. After that, he joined Credit Suisse First Boston and helped rebuild the firms convertible franchise. While at Credit Suisse, he also served as Vice-Chairman responsible for risk within Marshall Capital, an investment vehicle that specialized in private placement convertible securities. In 2010, OMara joined Cowen and Company and is currently a Senior Advisor to the firm.