On the Move

David Krell, president and chief executive officer of the International Securities Exchange, will retire in January. He and chief operating officer Gary Katz (photo) founded the exchange in 2000. Both earlier worked in the New York Stock Exchange’s options division. Katz will succeed Krell as president and CEO next January. Katz will also join the ISE’s board of directors.

Rick Holway was recently named CEO of Firefly Capital, a trading technology provider to institutional money managers. He joined the Boston-based firm as a managing director two years ago and guided sales and its strategic effort. Holway founded Harborside, the now-defunct crossing system, in the late 1990s.

Peter Martyn joined the National Stock Exchange as vice president of customer services, a newly created position. He will serve as the liaison between the exchange’s sales staff and the technology group. Martyn most recently worked at Nasdaq, where he was a managing director for transaction sales.

The National Stock Exchange promoted Yizhaq “Zak” Pinhas to vice president and director of development. Pinhas joined NSX in 2006 as director of development in the exchange’s technology area. He worked on the design and development of NSX’s BLADE trading platform and the NASD/NSX trade reporting facility. Previously, Pinhas was director of the application services group at Nasdaq from 2004 until 2006.

David Margulies joined Weeden & Co. this month to manage the firm’s algorithmic trading sales effort in Greenwich, Conn. Margulies previously ran electronic trading sales for Susquehanna Financial Group in New York. He joins Paul Pantalena, a longtime buyside trader who joined the firm last year, and Doug Rivelli, who heads program trading and the firm’s Pragma@Weeden algorithmic product. The firm expects to make additional hires in the electronic trading area.

Bryan Harkins recently joined Direct Edge ECN as director and head of sales. Harkins was previously in sales at Nasdaq, where he spent almost six years.

Scott Cohen joined Wachovia Securities as a managing director in the cash equity trading business. He will oversee trading in the equities financial sector and report to Peter Gunderson, head of cash equity trading. Cohen previously spent 28 years with Prudential Equity Group, holding a number of senior positions within equity trading, most recently as a managing director running listed and Nasdaq trading.

Tim Chapman joined Jordan & Jordan’s management consulting practice, where he will focus on electronic trading tools and market strategies. Chapman was most recently with BearingPoint as a consultant with its capital markets group. Before that, he worked in electronic trading at Knight Capital Group and Merrill Lynch.

Rob Shapiro joined Morgan Stanley Investment Management as executive director of trading and execution analysis. Shapiro, a former head trader at Iridian Asset Management, was most recently a senior vice president in Abel/Noser Corp.’s trading strategy group.

Matt Newton was appointed an at-large director on the board of the National Stock Exchange. Newton is a managing director and head of single-stock trading of U.S. equities at Citi Markets and Banking. Newton was also appointed to the board of NSX Holdings, the exchange’s parent company. He replaced Steven Keltz, counsel for Citi Markets and Banking, in both positions. Citi is an investor in the National.

Tim Demarest joined SunGard as chief product officer of its BRASS solution suite for equities trading. Demarest will lead the development and strategy of BRASS, which includes a trade order management system, a set of direct-market-access tools, solutions for automated indications of interest and advertised trades, trade matching, and compliance analysis and reporting. Demarest was previously chief executive of Perseid Technologies. Before that, he held positions with Knight Capital Group.

Neil Bloomgarden joined Morgan Stanley last month as a senior position trader. He was previously with HSBC in New York.

HSBC Securities (USA) made two hires. Alexander Shepard joined the broker-dealer as a managing director and head of equity trading and sales trading for the Americas. He is responsible for day-to-day operations for international equity sales trading and trading. Shepard joins from ABN AMRO, where he was deputy head of equities and head of equity sales. Previously, he spent 10 years at UBS as a senior international equity sales trader servicing U.S. institutions in non-U.S. equities and ADRs.

Carmine Gizze joins HSBC’s international equity trading team as a senior vice president. He reports to Shepard. Before joining HSBC, he was an international equity trader at ICAP Securities specializing in international ADRs. From 2000 to 2006, he served as director of international trading at WestLB Securities.

Melissa Moo recently joined the electronic trading services group at Banc of America Securities as vice president. Moo joined from Nasdaq, where she was a managing director in sales, covering broker-dealers.

Paula Morrison joined NYFIX in Boston as a senior account manager last month. Morrison is responsible for selling NYFIX’s connectivity products, including its crossing network, Millennium, to the buyside, and servicing the products as well. Morrison joined from Thomson Financial, where she spent 10 years marketing its network and desktop products.