Robert Arancio takes the reins as president of the Security Traders of New York (STANY). Arancio, head of trading at Neuberger Berman, replaced Stephen Kay, Knight Capital Group, as STANY’s leader.
A sellside trader at Lehman Brothers for most of his career, Arancio was featured in a Traders Magazine story last month in which he discussed a number of topics, including STANY’s priorities during his tenure, as well as the evolution of trading and his move to the buyside last year.
On trading technology: “Every major bulge bracket firm has a multitude of choices for execution, but you have to know which tool is working in which [type of] market,” said the former co-head of liquid markets at Lehman.
He also said he thought liquidity was harder to get in the days of Nasdaq, when it was a dealer market in practice as well as in name. “There was less volume. Liquidity was more of an issue than it is today. It was a much harder market to execute in,” he said. Arancio also said traders need to increase their understanding and knowledge of other asset classes beyond equities.
Credit Suisse promoted Rob Maher to head sales in Europe for its electronic trading group, AES. Maher, who joined the firm in 2002, had headed AES sales on the West Coast since 2006.
In London he reports to Naseer Al-Khudairi and Gerry Keneally for distribution, and to Manny Santayana, who heads global sales for AES in New York.
Mike Towey joins Pali Capital as co-head of U.S. equities. Towey, formerly head of U.S. equity trading at CIBC World Markets, will run the group with Kevin Fisher, who has been with Pali Capital for 10 years. Towey was co-head of U.S. equity research at CIBC before becoming the head of equity trading there.
David Nardi and Peter Feder join WJB Capital Group as senior sales traders in the New York office. Nardi, who spent 13 years as a trader at Goldman Sachs, joins from Wachovia Securities, where he traded energy stocks. Feder was previously a sales trader at A.G Edwards. Before that, he spent more than 12 years at Brown Brothers Harriman as senior sales trader.
Gordon Charlop joined Rosenblatt Securities as a managing director in charge of the firm’s New York Stock Exchange floor operations. Charlop was formerly president and chief executive of agency brokerage WJ Dowd. He is also a former NYSE floor Official. Prior to joining WJ Dowd in 1990, Charlop was a clerk at H.J. Meyers and a trading assistant for Bear, Stearns & Co. on the American Stock Exchange. At Rosenblatt, he will oversee a floor staff of nine people.
Brian Kenney joined Stanford Group Company as a senior vice president and senior sales trader. Kenney, a veteran of more than 16 years, was most recently at E*Trade Capital Markets. He reports to Rich Parker, who heads institutional equity trading.
Justin Schack, a former assistant managing editor at Institutional Investor magazine, joined Rosenblatt Securities as a vice president and market structure analyst. Schack is among a select group of financial reporters who have covered electronic trading since its infancy. He will continue to write about markets and trading for the brokerage firm’s clients.
Joanna Horton, director of global trading at Capital Institutional Services, has become a member of the National Organization of Investment Professionals (NOIP). Horton, who has headed CAPIS’s trading for 15 years, is one of the 210 active members of the organization, which meets twice a year. NOIP’s members include chief executives, institutional traders and managers for investment advisors as well as brokerage firms, and representatives of major stock exchanges and ECNs.
Melissa Moo recently joined Weeden & Co.’s algorithmic trading sales group. Moo, a former managing director in sales at Nasdaq for the broker-dealer group, was most recently with Banc of America Securities in its electronic trading group. She reports to Dave Margulies, who heads electronic trading sales from the firm’s Greenwich, Conn. headquarters.
Marty Brunke joined Capital Institutional Services as a senior options trader. Brunke, previously the manager of global futures and commodities trading at Koch Quantitative Trading, also runs the options desk. Additional hires are expected, says Kristi P. Wetherington, firm president and CEO.
William Reekstin was promoted by electronic agency brokerage AXES to the position of global business development executive. He joined AXES, a spin-off from Auerbach Grayson, in January 2007.
Esposito Securities in Dallas hired two traders: Steve Capurso, formerly a specialist on the AMEX for Spear, Leeds & Kellogg, joins as a proprietary trader; and Andrew Melitz, previously with Exane in New York, joins as an international sales trader.
Meridian Equity Partners hired four equity sales traders. They include Paul Slinkowski, William Gesslein and Brian Whalen, all of whom previously worked together at Robert G. Pears & Co. for the past seven years. In addition, Kevin Kelly, previously with Capital Institutional Services, also joined as a sales trader.
Traders Gerry Mastrianni and Henry Cortes joined discount brokerage StockCross. The two were previously at the the Florida-based Empire Financial Group.
Keith Milko has joined Atlanta-based NorthPoint Trading Partners as a vice president and senior client relationship manager. Milko, who previously held a similar position in Bank of America’s prime brokerage unit, reports to Michael DeJarnette, Northpoint’s president and co-founder.
The Security Traders Association of New York announced that it is forming a new committee for members to cover all aspects of ETFs, or exchange-traded funds. It chose Anthony Dudzinski, CEO and COO of XShares Advisors LLC, to lead the new committee.
Steve Rosenberg and Kurt Bruksch joined Lek Securities Corp. as agency institutional brokers on the floor of the Chicago Stock Exchange. Rosenberg and Bruksch, both previously with E*Trade Capital Markets (the former Engelman Securities), work with John Joyce, director of trading.
KeyBanc Capital Markets’ Kevin Kruszenski, director of trading, has taken on additional responsibilities within the firm. Kruszenski now oversees sales trading for the entire equities group. He now heads all aspects of trading, including KeyBanc’s NYSE floor operation, the listed and Nasdaq trading group, program trading and stock repurchases. In addition, Luke Phar joins the firm’s Los Angeles office as a trader.
Allen Jordan, formerly of Bear Stearns, joined Rochdale Securities in New York as a senior sales trader. Traders Magazine incorrectly reported his new employer in the February issue. We regret the inaccuracy.
In the March issue, Traders Magazine transposed the names of the firm Morgan Joseph & Co. in one reference. We regret the error.
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