Concept Capital expanded its sales and trading effort in Chicago with five new hires from Jesup & Lamont. The New York-based brokerage hired two sales traders and three research sales pros to increase its equities coverage in the Midwest.
The new hires are the latest in a series of senior-level appointments and hires that Concept Capital has made in the last six months. The firm’s strategy has been to grow by bringing in teams of traders.
Sales traders Brian Moore and Carla Davi join the Chicago office as vice presidents. The office had two sales traders already in place covering accounts. Firm wide, there are now 14 sales traders. Concept runs its position trading out of its Greenwich, Conn., office.
On the research sales side, James Taich heads Concept’s Chicago equity sales team as a managing director. Taich brings years of experience in research sales, as well as many institutional relationships from his position as a senior managing director at Jesup & Lamont, the firm reports.
Delores Gress, senior vice president, and John Ognar, vice president, join the sales team in the Chicago office. Their main research product is the Washington Research Group, which Concept acquired in March of this year.
Earlier this year, Concept Capital executive Robert Moore told Traders Magazine that the firm could see revenues in the cash equities business reach $25 million this year. Through additional growth from new hires and expansion in fixed income and options, Moore said the capital markets group could generate $50 million next year and then $100 million in 2011.
In addition to New York, Concept has offices in Greenwich, Conn., Garden City, N.Y., Washington, D.C., Los Angeles, Houston, Chicago and Boca Raton, Fla.