Duncan Niederauer joins the New York Stock Exchange this month as president and co-chief operating officer. A veteran of more than 20 years at Goldman Sachs, Niederauer was previously the firm’s co-head of equities execution services and its electronic trading and market structure guru. He represented Goldman on the Archipelago board of directors since 2000.
Henry Gourdeau will run trading at Seacross Global Advisors, a new hedge fund with $500 million in assets scheduled to open this month. Gourdeau is a veteran who previously worked at Lehman Brothers and Harris Nesbitt, among other firms.
Dr. Max Palmer joined execution management system vendor FlexTrade Systems as director of algorithmic solutions. Dr. Palmer joins FlexTrade from New York Stock Exchange floor broker Stuart Frankel & Co., where he served as managing director of execution services since 2001.
Kenneth Leibler, chairman of the Boston Options Exchange, has left the organization. He is replaced by Peter Layton, formerly an executive with Goldman Sachs/Hull Trading. Leibler, a onetime chief executive of both the Boston and American stock exchanges, played a key role in creating the Boston Options Exchange.
Patricia “Pat” Johnston retired earlier this month as head of equity trading at Invesco Institutional North America. Johnston, a 25-year veteran on the buyside, moved to Invesco’s Atlanta office from Denver in 2003 to restructure the firm’s equity trading. She and her husband, Michael, plan to relocate to Santa Fe, N.M.
Thomas Labenz joined Jefferies & Co. as head of trading for Jefferies’ technology sector. He will lead a team of six traders who make markets in more than 500 technology stocks. Previously, Labenz was director of Nasdaq trading at First Albany for four years. Before that, he was a Nasdaq market maker at Hambrecht & Quist.
Agency broker Rosenblatt Securities hired three floor brokers and a clerk from independent floor brokerage firm Joseph A. Sangimino Inc. The three brokers are Joseph A. Sangimino, Robert J. DeGaetano and Salvatore D. Aquino. The traders and clerk Anthony Castelli join Rosenblatt’s existing floor unit.
KeyBanc Capital Markets recently promoted Kevin Kruszenski to director of trading for institutional equities. He oversees both sales and risk for listed and Nasdaq trading, as well as the firm’s algorithmic trading effort and its corporate services group. Also, Sharon Faska, a 25-year sales trading veteran, was promoted at KeyBanc Capital Markets. She services clients in Canada and the southeast United States.
The Nasdaq Stock Market announced the four members elected to its board of directors for one-year terms. They are Daniel B. Coleman, Lon Gorman, Glenn H. Hutchins and Thomas F. O’Neill.
Coleman, who has extensive trading experience across asset classes, is joint global head of equities at UBS Investment Bank and a member of its management committee. Gorman, who oversaw all of Schwab Capital Markets’ trading businesses across asset classes, was vice chairman at Schwab before he retired. Hutchins, who has extensive experience in the private equity business, is a co-founder of Silver Lake and a managing director there. O’Neill, who began his Wall Street career in 1972, is a founding partner of Sandler O’Neill & Partners.
Hudson Securities hired a slew of traders. Scott Murray will head a new 20-trader office in Tinton Falls, N.J. Murray was with Jones Trading. Robert Cohen, who had his own firm, joins as a specialist in agency 144 sales; Lawrence Cromidas, previously with Tullett Prebon, joins as a vice president in sales and business development; Harlan Sender, previously a trader with AM Capital, joins as a market maker; and Maryellen Farrelly, previously with TD Waterhouse, brings 30 years’ experience as a broker-dealer sales trader. Also, Hudson hired four new institutional sales traders: John Ray and Keith Schweitzer, both previously with Knight Capital Markets; Peter Ju, previously with Tullett Liberty; and Kevin Schweitzer, previously a salesman at electronic broker Miletus Trading.
The American Stock Exchange promoted Cliff Weber to executive vice president of development and strategy and Scott Ebner to senior vice president of exchange-traded funds (ETFs). Weber is responsible for growing Amex’s equity order flow and its ETF market share, as well as the development of new structured products. Ebner takes Weber’s old job and is responsible for new product development and ETF marketing.
Nancy R. Eichorn joined the CBOE Stock Exchange as a managing director in transaction services. Eichorn, a longtime Nasdaq employee, joined from Bear Stearns and is the fledgling exchange’s second hire, after company president David Harris.
Geri Shepard and Claire Spooner, both previously with BNY ConvergEx Group, started a trading and sales group for Institutional Trading Services. Mid Atlantic Capital Corp. is the firm’s NASD-registered broker-dealer. The new branch is in Newburyport, Mass.
David Boone, formerly of Traders Magazine, recently joined the Philadelphia Stock Exchange. Boone works in business development and marketing for PHLX’s equities products. He reports to Barry Nobel.
Instinet, a subsidiary of Nomura Holdings, promoted Christopher Rogers to chief technology officer from his position as chief software architect. Former CTO Michael Bundy was named CTO of Chi-X, Instinet’s European alternative trading system.
