Frederic Krieger joined NYSE Regulation to lead a new risk group, charged with identifying, tracking and addressing key external market and industry trading developments that require regulatory responses, as well as internal areas of risk. Krieger will report to Robert Marchman, executive vice president, enforcement and risk division. Krieger was most recently managing director of Riverview Capital Holdings, a private investment firm based in New Jersey. Krieger has also held compliance jobs at Citi and Charles Schwab.
Robert A. Schwartz was awarded the Lirtzman Prize by the Zicklin School of Business at Baruch College last month. Schwartz, a professor of business for 43 years, received the award for his 11 years of research, teaching and service to Baruch College, according to John Elliott, the business school’s dean. Schwartz was among a handful of academics pioneering the study of what later became known as “market microstructure,” which examines how securities markets operate and how orders are priced and traded. Guest speakers at the award ceremony included Harold Bradley, chief investment officer of the Kauffman Foundation in Kansas City, and Reto Francioni, CEO of Deutsche Borse.
Jenny Miller joined Bear Stearns in London as a senior managing director and head of portfolio trading sales for Europe. Miller, a 14-year veteran in portfolio sales, joins from Merrill Lynch, where she headed portfolio sales. She has also worked in portfolio sales at UBS and BZW. Her hiring follows that of Richard Bateson, who joined Bear’s European portfolio trading team as a managing director earlier this year. Bateson, a 10-year veteran in portfolio trading, had worked at JPMorgan in portfolio trading, where he was responsible for risk and flow trading.
Scott Bauer took a sales position with Investment Technology Group. He was previously at LaBranche Financial Services in a sales capacity.
Nick Savona recently joined Toronto-based Evergreen Capital Partners as a sales trader at the boutique investment bank. Savona, a 15-year trading veteran, will cover Canadian accounts, but his initial charge is to get Evergreen registered with FINRA, so it can trade with U.S. institutions. Savona previously headed the U.S. trading arm of Toronto-based MGI Securities for two years before moving to Evergreen.
Ed Laux was promoted to head of U.S. trading at Cantor Fitzgerald, a new position. Laux was head of listed trading at Cantor. Also at Cantor, Tony Manzo, head of OTC trading, is retiring from that position. Manzo will stay with Cantor in a consulting role. He is being replaced by William Clark and Michael Ferry as co-heads of OTC trading. Clark was a senior OTC trader at Cantor. Ferry is new to the firm.
Laurie Berke joined TABB Group as a senior consultant in the firm’s New York office. Berke has been working with TABB since early 2006 as a consultant on an informal basis. Before that she spent 10 years at Investment Technology Group in global execution services product management. There, she was responsible for the desktop product QuantEX, the early development of the EMS Triton, ITG’s first algorithmic servers, the launch of ITG Canada’s trading systems and their global portfolio trading system.Prior to joining ITG, Berke spent five years at Merrill Lynch, where she served as a senior vice president responsible for the launch of its portfolio trading and derivatives business.
Jefferies Group made two hires in its London office. The brokerage brought on Terry McCarthy as head of U.K. trading and sales trading and Steven Hopwood as deputy head of U.K. trading and sales trading. Both executives join from Panmure Gordon & Co., where they held similar positions. In their new roles, they will be responsible for leading the development and coordination of Jefferies’ U.K. equities business, as well as the sales trading business with European investors.
Gary Canon, head of equity trading at Harris Investment Management in Chicago since 1996, will retire next month after 38 years as an equity trader. Canon, who also spent six years as a sales traderincluding a stint at Drexel Burnham Lambertstarted on the trading desk at First Chicago in 1969. Canon was president of the Security Traders Association of Chicago for two years, in 1984 and 1985. Phil Krauss, a current staffer and veteran trader at Kemper Financial and UBS Asset Management, will become the new head of equity trading.
Cuttone & Co. hired five new sales traders and a strategist. Patricia Fleming, Sue Conway and Ted Clarke all join as senior vice presidents from Prudential Securities. Cuttone & Co. also hired John Greco, formerly of UBS, and Gary Curreri, formerly of Jefferies & Co., as senior vice presidents in sales trading. Bernie McSherry, also from Prudential, joins as a senior vice president to bolster the firm’s marketing efforts and strategic initiatives.
Ralph Edwards recently joined Sanford C. Bernstein & Co. as a senior vice president to launch an options trading desk. Edwards, a 25-year trading veteran, previously ran the options desk at Prudential Securities for three years. Bernstein expects the options desk to be fully operational early in the first quarter of ’08. Edwards reports to Tom Wright, global head of equity trading.
Paul Buckley recently joined Credit Suisse as a director and salesman for its AES’s FX product. Buckley, who previously worked at UBS for 10 years, reports to Manny Santayana, managing director and head of AES sales.
Marc E. Lackritz, 61, will be stepping down as president and CEO of the Securities Industry and Financial Markets Association, or SIFMA, once a search committee has named his successor. Lackritz has been president of the organization and its predecessor, the Securities Industry Association, since 1992. Lackritz has plans to teach on the university level and is working on a book idea. A savvy veteran of Capitol Hill, Lackritz has spent most of his career working with various industry associations. Prior to that, he was staff director and chief counsel for the Subcommittee on Telecommunications and Finance of the House Energy and Commerce Committee. He has been deputy chief counsel to the Senate Budget Committee, and was an assistant counsel to the Senate Watergate Committee. He has testified before Congress on numerous occasions and has spoken and written extensively on issues facing the financial services sector.
Credit Suisse trading veteran Tom Rice has made a career move that could ultimately affect the careers of other Credit Suisse employees. Rice, previously a managing director and head of U.S. equities sales trading, has moved from trading to Credit Suisse’s human resources department. There, Rice remains a managing director and heads an “internal mobility” initiative that grooms talented employees for more senior roles in the firm. Rice, who’s spent most of his 27-year trading career at Credit Suisse, co-chaired this year’s annual Muscular Dystrophy Association’s fund-raiser gala, Wings Over Wall Street. Wings Over Wall Street has become the most successful event for ALS (Lou Gehrig’s disease) in the U.S.