Jamil Nazarali and Matt Cushman, two former Knight Capital Group executives, will join Citadel in September to lead a new effort in quantitative trading at the $11 billion hedge fund. Nazarali spent 11 years at Knight, where he ran its electronic trading business globally. Cushman ran Knight’s quantitative strategies during his nine years there.At the Chicago-based Citadel, they will work with groups across the firm, including equities, currencies and high-frequency trading. The two resigned from Knight in February. They report to Kenneth C. Griffin, Citadel’s founder and chief executive.
Ken Savio joins Macquarie Securities in New York City as a senior managing director and head of Macquarie Securities in the U.S. Savio, with more than 20 years’ experience running and building equities businesses, will have management responsibilities for U.S. equities-trading, sales trading, research and derivatives efforts. He will work with Macquarie’s management team to help further drive its growth. He joins after a lengthy career at Bear Stearns, where he held a number of senior positions, including global head of trading and sales trading and global head of convertible securities. Most recently, he was head of global equities at Cantor Fitzgerald. Savio reports to Stevan Vrcelj, group head; Macquarie Securities; Todd Steinberg, global head of derivatives delta one; and Tim Bishop, president and CEO of Macquarie Capital (USA).
Joel Steinmetz joins Citadel Securities as head of electronic trading in New York. Steinmetz spent 13 years at Instinet and was previously head of sales at Liquidnet, where he spent more than two years. Before that, he worked at Citi and Lava Trading.
Citigroup tapped Mike Pringle to be its global head of equities trading, a new position. Pringle, based in London, is responsible for all trading personnel, risk and capital commitment worldwide. He had been in charge of equities for Europe, the Middle East and Africa (EMEA) at Citi since 2009. Pringle reports to Derek Bandeen, who is in charge of equities.
Eric Shattenkirk joins Citigroup’s transition management team in New York as a transition specialist focusing on exchange-traded funds and strategy development. He was previously with the bank’s global program trading group. Shattenkirk reports to Greg Sutton, head of program trading.
Shakil Ahmed, who joined Citigroup in 2008, was named Citi’s global head of electronic market making. Ahmed is currently co-head of electronic trading with Dan Keegan. Upon his promotion, however, he ceased his other role as global head of quantitative strategies at Citi Capital Advisors, a Citigroup hedge fund. Ahmed now oversees both internal and external market making. Prior to joining Citi, he spent 14 years at Morgan Stanley, running its process-driven trading group, the main prop unit at the firm. Ahmed’s current responsibilities include proprietary quantitative trading strategies across multiple asset classes, quantitative hedge funds and electronic trading platforms.
Frederic E. Mason joins J.P. Morgan Asset Management in New York as an executive director. Mason, a 20-year veteran, was previously head trader at Highland Capital Management, a $25 billion global macro multi-asset investment manager. Before joining Highland in 2007, he was a managing director in equity trading at Babson Capital Management, where he traded equities options, futures and commodities. Mason is a former president of the Boston Security Traders Association and is a member of the National Association of Investment Professionals.
Neal Goldstein joins JPMorgan this month as global head of electronic connectivity solutions in New York. Goldstein, with more than 15 years of industry experience, was previously at Nomura Securities, where he was head of U.S. electronic product development for more than two years. He reports to Frank Troise, the firm’s global head of electronic client solutions.
Stanley Choung was elected to the board of directors of the International Securities Exchange. Choung is a managing director of the institutional equity division at Morgan Stanley, where he has headed the automated market group since 2007. He serves as an industry director representing ISE’s primary market makers. He replaces Sean Flynn of Timber Hill, who is retiring due to term limits.
James Manfredonia joins Maxim Group in New York as a senior vice president of the institutional equity trading division. Manfredonia, a 28-year veteran, is responsible for expanding Maxim Group’s sector-based trading platform. Most recently, he spent two years at First New York, where ran a prop book across asset classes. Beginning his trading career in 1983 at Salomon Brothers, Manfredonia later moved to Merrill Lynch Capital Markets, where he rose to managing director and head of the cash desk during his 10 years there. He held a similar position at Bear Stearns for six years.
Cowen & Co. recently formed a convertible securities desk and hired Iain Kennedy as director in sales from Barclay’s Capital. He joins a team that includes Michael Colucci, a director and senior convertibles trader; Mike Tarro, a director and trader; and Omar Brown, a director in sales. These new hires all report to Thomas O’Mara, Cowen’s head of equity derivatives and convertibles.
Randolph Anderson joins middle-office service provider QEL Systems Services as a vice president of sales. A 20-year veteran, Anderson is responsible for sales and marketing initiatives, as well as business development. QEL Systems helps broker-dealers to track commissions and exchange fees and rebates. Previously, Anderson held sales and trading roles at Merrill Lynch, Wheat First, Signet Bank and TAG.
Hans Heidle joins Pipeline Trading in New York as a director in the company’s execution management consulting group. Heidle, a six-year veteran, works for Pipeline’s Alpha Science research team. The group is responsible for its trade-cost analysis program, which looks to help clients increase their alpha capture and improve execution quality. He previously worked at ITG for five years. He reports to research director Henri Waelbroeck.
John McGough joins JonesTrading as a managing director. A 15-year veteran, McGough will lead the brokerage’s expansion of its global commission management service. He was previously at BTIG for three years, where he served as director of commission management. He reports to chairman Packy Jones, as well as to chief operating officer Steve Chmielewski and chief financial officer Alan Hill.
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