TRADING UP: JPM and Wedbush Hire Execution Heads
It looks like JPMorgan has found a successor to Frank Troise, former head of execution who left to run ITG. According to an internal memo, the bank has brought on David Hudson, its chief financial officer of global markets, as its new global head of markets execution. In this newly created role, he will oversee the 150-person execution unit that trade equities, forex and fixed income securities, to name a few. According to the memo, Hudson appears to have a broader job description than Troise as he will also focus on “emerging trends, technologies, electronic platforms, and potential partnerships – inside and outside the bank”. He reports to Daniel Pinto, the chief executive of JP Morgan’s corporate and investment bank.
Wedbush Futures has hired Steve Trimble as its head of execution. Trimble, a veteran with over 34 years of experience, is charged with helping build the unit’s execution and the multiple product execution business. Before joining Wedbush, he served as Executive Director, Global Managed Derivatives Marketing, at J.P. Morgan. He began his career as a runner and research analyst in 1982. He went on to become a market maker in forex on the International Monetary Market, a unit of the CME Group. In 1994, he joined Bear Stearns where he advanced over the years to become a Managing Director, Principal, at the firm. He reports to Joe Signorelli, head of Wedbush Futures.
London-based Linear Investments has upped the ante in its outsourced trading business by hiring BlackRock former global head of equity trading, Paul Walker-Duncalf. Walker-Duncalf joins Richard Lilley as joint managing partner in the investment management firm. Prior to BlackRock, Walker-Duncalf worked at Merrill Lynch Investment Managers and Mercury Asset Management.
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IEX, the ATS that is seeking to become an exchange, has lost one of its senior executives. Don Bollerman, the firm’s head of markets and sales, resigned last week and his last day was Friday. He was one of the nine co-founders of IEX, which has been in existence since 2013 and has been the subject of heavy market scrutiny since its inclusion in the Michael Lewis book “Flash Boys.” Before IEX, Bollerman was a managing director of Nasdaq Inc.’s transaction services group. His career in electronic trading began more than two decades ago at Instinet.
Deutsche Bank has lured JP Morgan prime brokerage sales executive director Oliver Jacomb for its global prime finance team. Jacomb joined JPM in June 2008 where he was a vice president in prime brokerage consulting between June 2008 and November 2010 before being promoted to executive sales director. He arrived at JPM as a result of its fire-sale purchase on Bear Stearns which was sold to the bulge firm during the 2007 financial crisis.
Isaac Chang is joining AQR Capital Management as its new co-head of global trading. Chang left his role as global head of fixed income, currencies and commodities at KCG in April after more than four years at the firm. AQR is rebuilding its trading unit following the loss of its former global head of trading, Hitesh Mittal, last year.
Chicago-based R.J. O’Brien & Associates has hired Peter Jerrom and John Burt as senior vice presidents and listed foreign exchange sales traders. Both Jerrom and Burt both previously served as co-head of exchange-traded FX at Sigma Broking in London since September 2014. Prior to that, Jerrom was head of global FX derivatives and chief operating officer for UniCredit in London. Before that he was a senior trader at Lehman Brothers in London and held product development roles at Barclays Capital. He started his career at Citibank, where he was a trader in London, New York and Singapore. Burt also was an over-the-counter (OTC) and listed broker for ICAP, specializing in emerging markets FX and swaps, before Sigma. He served as an OTC broker in those products at Sunrise, Tullett Prebon and Tradition SA. He has also done stints in exchange-traded derivatives and prime brokerage at J.P. Morgan Securities in London and UBS, where he was in the bank’s prime brokerage hedge fund sales unit.
In a push to drive its European business, Convergex hired Leila Mayet and Jeanine Cerligione for its European-based electronic sales team. Joining as vice presidents, Mayet and Cerligione will focus on offering an enhanced level of service to the firm’s regional clients. Prior to joining Convergex, Mayet was a sales and CRM executive at Aquis Exchange, where she was responsible for managing new business sales and relationship management activities across Europe. She previously worked at both NASDAQ OMX and BM&F Bovespa. Cerligione previously worked for Macquarie Capital USA and in electronic sales and account management at EdgeTrade, which was purchased by Knight Capital in 2008. Both report to Holl, head of international sales and trading.
Apex Clearing has hired Scott Daspin as the firm’s head of sales. Daspin is charged with expanding Apex’s efforts into the prime-brokerage business, Daspin previously was on the prime-brokerage sales team at Triad Securities, where he started in 2015 with the mission of attracting business from quantitative hedge fund managers. Before that, he worked at rival Convergex.
Featured image by treety/Dollar Photo Club
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