Manny Santayana, a managing director who had been heading sales in the Americas for Credit Suisse’s Advanced Execution Services product, has been promoted. Santayana now heads global sales for AES. He had run sales for the Americas since AES was launched in 2002. Santayana, a trading veteran who joined Credit Suisse when it purchased Donaldson, Lufkin & Jenrette in 2000, has held sales positions with State Street Global Advisors, Fidelity Investments and IBM. He reports to Steve Garnett, global head of the alternative execution product group. Santayana replaces Richard Balarkas, a 14-year veteran of Credit Suisse, who is joining Instinet Europe.
Wayne Wagner, a pioneer in trade-cost analysis, cut his ties last month to the firm he co-founded. Wagner, who launched Plexus Group in 1986, ended his relationship with Plexus/ITG. ITG purchased Plexus Group from JPMorgan in 2006. As a consultant to pension funds, money managers and brokers, Wagner was an early voice that pointed to how a variety of timing issues play a large role in the cost of trading equities. “I’ve been privileged to participate in some important breakthroughs that have saved investors billions of dollars,” Wagner told friends in an e-mail. Wagner has testified before Congress on trading costs and written numerous books and papers on the subject. Early in his career, he participated in the design of the first index funds at Wells Fargo Bank. Wagner will continue to consult and to serve on various boards, but the 46-year veteran said he will also take time for “the serious pursuit of various dalliances, skylarks, horseplays and fooleries.”
Morgan Stanley made changes at the top of its institutional sales and trading group, which handles equities and fixed-income securities. Mitch Petrick became global head of sales and trading, replacing Jerker Johansson and Neal Shear. Petrick, a Morgan Stanley employee since 1989, was previously head of corporate credit. Also moving into newly created top jobs were Rich Portogallo and Phil Newcomb, co-heads of the U.S. sales and trading. Portogallo, formerly in charge of Morgan Stanley’s prime brokerage operation, was also made co-head of the clients and services division along with Jerry Wood. Both Wood and Newcomb come from Morgan Stanley’s fixed-income operations.
Michael Costa and Chris Godvin joined UBS as sales traders in the bank’s San Francisco office. They report to Timothy Gee, head of U.S. cash sales trading, as well as Matt Koob, head of UBS’s San Francisco office. Costa was previously a sales trader at Banc of America Securities. Before that, he worked as a buyside equity trader at Merrill Lynch Defined Asset Funds. Godvin was previously a sales trader at Bear Stearns in San Francisco. Before that, he was a managing director at Schwab Soundview Capital Markets and Robertson Stephens.
Jim Cowles was promoted to run all equities products at Citi, including cash equities, equity derivatives and convertible bonds. Cowles was previously in charge of equities in Europe, the Middle East and Africa for Citi. Reporting to Cowles are Pete Santoro, head of global equities trading, and Joe Elmlinger, head of derivatives. Jim O’Donnell became co-head of the newly formed investor client group at Citi. O’Donnell was previously head of global distribution for equities, which encompassed research sales and sales trading. The investor client group merges the sales functions of Citi’s equities, fixed-income, currencies and commodities into a single unit.
Kevin Travis joined Broadpoint Securities, formerly First Albany, as a sales trader covering the West Coast.
Ciaran O’Kelly is now sole head of global equities at Banc of America Securities. The move follows the departure of Pete Forlenza, formerly co-head with O’Kelly of global equities. The two executives were promoted to run global equities last summer. O’Kelly also takes on the role of head of equities strategy, following the departure of Bill Harts.
Matthew Craffey joins Rushmore Capital in Edison, N.J., as a sales trader. Craffey, previously with Collins Stewart in New York for the last three years, reports to Frank Masi, Rushmore’s director of institutional trading.
Michael J. Palazzi joins Pali Capital as head of derivative sales in New York. Palazzi, who recently ran the hedge fund Northstar Capital, spent most of his previous career heading sales and Nasdaq trading at CIBC in New York for 15 years. Between stints at CIBC and Northstar, Palazzi ran global sales trading at Cowen & Co. for three years. The New York desk also hired three senior traders, each of whom has more than 10 years of experience. Edward Britt, who traded health care and industrials at Jefferies & Co., joins Pali as head of trading. Veterans Steve Meisner, an industrials trader, and Stephen Doherty, a trader of technology, media and telecommunications, join from Jefferies & Co.
Pali Capital also hired five veteran sales traders. John Walzer, previously with RBC Capital Markets, joins Pali as a senior sales trader in New York. Robert Lame, who previously headed Pulse Trading’s New York desk, also joins as a senior sales trader in New York. Mike Stamberger, a third-market veteran who most recently wasa partnerat Weeden & Co., joins as a senior sales trader in New York. Allen Jordan, previously with Bear Stearns, joins as a senior sales trader in New York. And Matthew Dorn, previously with RBC Capital Markets, joins Pali’s Minneapolis desk as a senior sales trader.
Knight Capital Group hired Andrew D’Amore as vice president inbroker-dealer sales and relationship management in its Chicago office. There, he’ll cover clients in the Midwest and West. He reports to Stephen Kay, a director in the department. He’d worked at E*Trade since 2000, most recently as a director of retail order managementat E*Trade Securities. Before that, D’Amore worked in various capacities at E*Trade Capital Markets. There, he helped create an equity block desk in 2003. D’Amorestartedhis career as anequitymarket-maker at GVR Co. in 1997.
Michael O’Reilly joins New York-based asset manager Select Equity Group as a strategic trading analyst. O’Reilly, who previously ran conferences for the buyside at TraderForum for six years, will be involved in looking at ways to improve the firm’s trading process, including analyzing technologies and managing relationships with vendors and brokers.
Brian O’Keefe has joined Panopticon Software as director of product management and will market the firm’s visual applications and real-time analytic products. O’Keefe, previously director of financial analytics of Tibco’s Spotfire division, has more than 20 years of experience in financial services sales. His recent positions with electronic trading firms include stints at Liquidnet and Firefly Capital.
Christophe Dacre-Wright last month joined Transaction Auditing Group as the firm’s new chief executive officer. He replaced Alan Shapiro, TAG’s founder and former CEO, who became executive chairman. TAG analyzes data to measure best execution. Dacre-Wright, experienced in domestic and international markets, had previously been the deputy regional chief executive of GL Trade Americas since 2004. Prior to that, he held a similar post with GL Trade in Europe.
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