After a career of 35 years in the options industry, David Krell was recognized for helping transform the industry that raised him. Krell, former CEO of the International Securities Exchange and co-founder, with Gary Katz, of the exchange that helped force the options industry to embrace multiple listings and electronic trading, received the Joseph Sullivan Award from the Options Industry Council in Las Vegas last month. In his acceptance of the award, he said of the ISE, “We created intermarket competition.”
Trading execs Ray Tierney, of Morgan Stanley Investment Management, and Matt DeSalvo, of Credit Suisse, were named co-chairs to the Wings Over Wall Street Executive Committee for 2008.
Also, this year’s Beier Award will be presented to Mary McDermott Holland, who heads trading at Franklin Portfolio Associates, at the MDA/ALS Wings Over Wall St. gala on Sept. 25. The Muscular Dystrophy Association holds Wings as a benefit to fund amyotrophic lateral sclerosis research. It presents the Michael P. Beier Award-named in honor of former Wings chair Michael Beier-to someone who inspires, encourages and motivates others to find a cure for ALS.
“Mary has demonstrated a can-do attitude during past Wings fundraisers,” said Lisa Utasi, a senior trader with ClearBridge Advisors and a past Wings committee co-chair. “She exudes the same positive spirit that Michael Beier gave us in continuingthe fight against ALS.”
Michael McCarty joined newly formed money manager Duff Capital Advisors as head of trading in the firm’s Greenwich, Conn., headquarters. McCarty, a 16-year veteran in derivatives and program trading, was previously head of U.S. portfolio trading at Morgan Stanley. Before that, McCarty founded the Delta-One trading group at Credit Suisse.
Richard Balarkas joined Instinet Europe as president and CEO. He joins from Credit Suisse in London, where he headed sales for the firm’s electronic trading suite of products, AES.
Dr. Eran Fishler joined trading algorithm provider Pragma Financial Systems as vice president of quantitative engineering. Fishler, previously with Hite Capital Management, will lead development of short-term risk models and algorithms. He reports to Dr. Peter Fraenkel, Pragma’s director of quantitative services and head of the quantitative engineering group.
New York-based Pali Capital has hired three international traders and two senior sales traders from Jefferies & Co. Brad Marks, who formerly headed international trading at Jefferies, will join Pali to run its international effort in New York. International traders Mike Montalbano and Charles McLaughlin also will join Pali. Both will report to Marks.
Ed Bralower and Michael Hock, both with more than 20 years’ experience, will cover accounts from Pali’s suburban New York offices-Bralower in Connecticut, Hock in New Jersey.
WJB Capital Group hired three sales traders in its New York office. They include: Peter Feder, a 28-year veteran who spent the previous seven years at A.G. Edwards, covering middle market accounts in New York; Tom Campbell, a 22-year veteran who recently came to the WJB from Wedbush Morgan Securities; and Brian Ferguson, who has been hired as an institutional sales trader. An industry veteran, Ferguson has been a a sales trader at GFI Group, as well as a trader and portfolio manager at RBC Capital Partners on the buyside.
Derek Bandeen joined Citi as head of global equities trading. He is based in London and replaces Pete Santoro, who recently left the firm. Bandeen was head of European equities at Morgan Stanley until a year ago. He spent 22 years with Morgan Stanley in a variety of equities trading roles, including derivatives, cash equities and proprietary trading. At Citi, Bandeen reports to Jim Cowles, head of global equities products.
Tom Montag joined Merrill Lynch as head of global sales and trading. In this newly created position, Montag will be responsible for all the firm’s global sales and trading activities across debt and equities. Montag was last with Goldman Sachs for more than 22 years before retiring in December. There he was co-head of the global securities business and a member of the company’s management committee. Before that he was co-president of Goldman’s Japanese operations from 2001. And earlier, he ran the firm’s global derivatives business. At Merrill, Montag will report directly to John Thain, Merrill’s chairman and chief executive.
Agency broker Cuttone & Company named Richard Christ to a newly created managing director position. Christ will be responsible for the oversight and facilitation of trade information flow between the exchange floor, regional offices and the upstairs trading desk in New York. He also will help expand Cuttone’s floor and desk operations. Christ, with more than 20 years of Wall Street experience, was most recently head trader at the hedge fund Loeb Partners Corporation.
Linedata Services appointed Annie Morris to managing director of the North American region. Based in Boston, Morris oversees the firm’s operations in the U.S., as well as in Canada and the Caribbean. The firm employs 220 people in four U.S. offices-Boston, New York, Hackensack, N.J., and Chicago. These operations cover the full range of products and services designed for asset managers and hedge funds. After holding positions at Morgan Stanley and Merrill Lynch, Morris joined the LongView Group in 1997, heading product strategy and client services.
Luis Camacho was promoted to head ConvergEx Global Markets in Asia. Camacho, previously in the firm’s New York office, now oversees all sales and trading from the Hong Kong office. He reports to Anthony Blumberg in New York.
Evergreen Capital Partners announced several new hires. David Connacher joined as an institutional sales trader from Clarus Securities. Don Greco joined as an institutional trader from W.D. Latimer. And Jason Bedasse joined the institutional sales desk from MGI Securities. Bedasse will cover U.S. institutional clients once Evergreen is registered and approved as a broker-dealer by FINRA.
FlexTrade Systems opened a field office in Chicago. Ted Bilharz, who will manage that office, joined the company as vice president in charge of options sales. He will work to expand the reach of FlexOPT, the firm’s algo suite for options. Bilharz spent almost three decades on the floor of the Chicago Board Options Exchange.
Mark Palmer joins complex event processing vendor StreamBase Systems as president and chief operating officer. Palmer, who was previously a general manager for Progress Apama, will focus on strategy and day-to-day operations for the Lexington, Mass.-based company.
George Patrick Brown joined WJB Capital Group as director of commission management and will oversee business development. Previously with Westminster Research Associates, Brown had been a senior vice president there in sales since 2003.
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