Nash, Weiss & Co. hired four institutional sales traders to work in the Jersey City-based firm's new institutional department. Paul O'Hara, Thomas Fradella Sr., Robert Burns and Thomas F. Fradella all former sales traders at Mayer & Schweitzer in Jersey City will report to Neil Feldman, Nash Weiss president and chief executive, and James J. Welsh, a Nash Weiss executive vice president.
Additionally, Robert Lichtenthal joined Nash Weiss as a senior trader. Lichtenthal, most recently an equity trader at Herzog, Heine, Geduld in Jersey City, will also report to Feldman and Welsh.
Willie Walters and Cindy Heigman joined the institutional sales desk at Hanifen, Imhoff in Denver as sales trades. Walters was previously head of the Nasdaq trading desk at Branch Cabell & Co. in Richmond, and Heigman was a sales trader at CIBC Oppenheimer & Co. in New York before joining Hanifen Imhoff. They will report to Chris DiIorio, head of the equity sales desk.
The Boston Stock Exchange (BSE) promoted four employees: Anthony K. Stankiewicz, Nicole J. Kalicki, Bruce G. Goodhue and Katherine T. Gitto.
Stankiewicz added the role of corporate secretary to his previous responsibilities as vice president of government relations, listings and member services at the exchange. Kalicki, most recently manager of corporate communications, was named an exchange officer and assistant vice president of corporate communications. Formerly a listings administrator, Goodhue was promoted to manager of listings. And Gitto was named market-information specialist. She was previously an administrative assistant at the BSE.
Rich Angle joined Brink, Hudson & Lefever in Vancouver as head of the foreign trading desk. Angle was previously head of the U.S. trading desk at Georgia Pacific Securities in Vancouver.
Brenda Harvey and Dale Michaud both joined Angle in his move from Georgia Pacific to Brink Hudson. Harvey and Michaud, previously traders on the U.S. trading desk at Georgia Pacific, will trade on the foreign desk under Angle.
The National Quotation Bureau the New York-based owner and operator of the pink sheets hired Sigurdur Snorrason to manage the firm's new electronic quotation service. Snorrason, a native of Iceland, was formerly head of trading and information technology at the Iceland Stock Exchange. He will report to Cromwell Coulson, National Quotation Bureau chairman.
Coulson said the National Quotation Bureau is awaiting approval from the Securities and Exchange Commission and the National Association of Securities Dealers to automate trading of the pink sheets. The pink sheets are a daily publication, named for their color, of thousands of over-the-counter stocks and their current prices. Coulson expects the pink sheets to be automated in early 1999.
Leo Hirata was named director of marketing and development for STRIKE Technologies, manager of a new electronic communications network owned by a consortium of trading firms, led by New York-based Bear, Stearns & Co. Hirata was previously a marketing executive at the New York branch of the Bank of Tokyo/Mitsubishi.
Colleen P. Mahoney, acting general counsel at the Securities and Exchange Commission, resigned to become a partner in Washington law firm Skadden, Arps, Slate, Meagher & Flom. Mahoney was the SEC's deputy enforcement director before serving as the commission's interim general counsel following the promotion of Richard H. Walker to enforcement director in May. Harvey J. Goldschmid, a Columbia University law professor, will serve as the SEC's new general counsel.
The newly-renamed S.G. Cowen hired Jim Raphalian as managing director of its over-the-counter trading desk. He was previously a managing director and head of capital markets at Josephthal & Co. in New York. In his new position, Raphalian reports to Meriwether S. Lewis and Charles Frumberg, co-heads of the equity division at Cowen.
New York-based S.G. Cowen, the former Cowen & Company, was renamed recently after being acquired by French bank Societe Generale.
James C. Daly was named president of IQ Financial Systems' European subsidiary. IQ Financial Systems is a New York-based provider of software services for the trading industry. In his new position, Daly will develop strategy for the firm's worldwide client activities from a London office. He was previously a general manager at New York-based Bridge Financial Information, overseeing 300 employees in 11 European offices.
Fidelity Capital Markets hired Derrick Penn to manage equity trading at the Boston-based firm. Penn was previously head of international equity trading at New York investment bank Lehman Brothers. In the newly-created position, Penn will be responsible for over-the-counter and New York Stock Exchange trading at Fidelity, a subsidiary of financial-services giant Fidelity Investments.
SBC Warburg Dillon Read, the Stamford-based investment-banking arm of UBS AG, changed its name to Warburg Dillon Read, dropping the SBC designation derived from the former Swiss Bank Corp. Warburg Dillon Read was previously a subsidiary of Swiss Bank Corp. In late 1997, Swiss Bank Corp. agreed to merge with Union Bank of Switzerland and change its name to UBS AG.
Dougherty Summit Securites moved offices within Minneapolis. The firm's new office is located at 90 South Seventh Street in Suite 4400.
