Bank of America Merrill Lynch hired Goldman Sachs-bred Tracy Caliendo to help further build its hedge fund business.
She joins the bulge firm as a managing director and head of Americas Equity Hedge Fund Services. Based in New York, she’s slated arrive in September and will report jointly to Jason Crosby, global head of portfolio products distribution and Scott Bacigalupo, Americas head of cash equity sales.
Caliendo will be responsible for enhancing the firm’s existing hedge fund relationships and creating new ones, with an emphasis on electronic trading.
A 16 year veteran, Caliendo spent her entire career with Goldman Sachs where most recently, she was a managing director and co-head of Americas electronic trading sales and coverage. There she was responsible for senior relationship management of its hedge fund business across theits equity platform. She began her career as a financial analyst in the prime brokerage group.
Goldman Sachs has now lost two senior level executives in the last few months. Traders Magazine reported in February that Greg Tusar, the firm’s global head of electronic trading, was leaving the firm at the end of May. Goldman Sachs confirmed the departure at that time.
Market participants said Tusar is taking a position at market maker GETCO, which is in the process of acquiring another large market maker, Knight Capital Group. A spokesperson for GETCO declined to comment on Tusar’s hiring as did Goldman’s DuVally.
