03.28.2016
By John D'Antona

TRADING UP: JonesTrading Adds in Asia; Bridgewater Hires From Apple

Block-trading firm Jones Trading is moving into pan-Asian equities trading, as it has hired a pair of Goldman equity pros to bring U.S. institutions small- and mid-cap liquidity from Hong Kong, Singapore, Australia, New Zealand, Thailand, Indonesia, The Philippines, and Japan. The firm said in a release that appointment of industry veterans Brian Tafaro and Khahlil Kirtman to build Asia reflects the company’s commitment to international trading while maintaining its client-focused approach. Prior to joining Jones Trading, Tafaro was co-head of Japan shares execution services at Goldman Sachs. Kirtman was manager of international sales trading at the white glove firm. Both report to Chief Executive Officer Alan Hill and will work out of the firm’s Hawaiian office which is run by Kevin Horgan.

Bridgewater Associates, the world’s largest hedge fund, announced in a client note that it has hired Jon Rubinstein, who helped oversee the development of the iMac and iPod at Apple. He will formally join the firm in May as co-CEO and take over the management responsibilities of Greg Jensen, a 20-year veteran of the firm who remains as co-chief investment officer alongside Bridgewater founder Ray Dalio and his longtime partner, Bob Prince. Eileen Murray has served as the other co-CEO alongside Jensen, and she will stay in that role.

Bank of America’s head of U.S. equity-research sales, Tim Reilly, has left the firm as the bulge bracket broker pared jobs across the investment bank recently, according to people with knowledge of the matter. Reilly, a managing director in New York, departed as part of the dismissal of approximately 150 people. Alan Davies and Hugo Hamilton-Shaw, equity salesmen in London, were also among the more senior managing directors who also left, the people said. Directors in the equity business who departed the bank include salesman Roger Gill and sales trader Barry Bolster in New York and, in Sydney, sales trader Sam Kanaan and research salesman Alex Pikoulas.

Chicago-based Cabrera Capital Markets is beefing up its international trading team with the hires of Mike Derby and Robert Livio. Derby and Livio arrive just two months after the investment bank and institutional brokerage firm hired Paul Karrlsson-Willis as managing director of global equity sales and trading. He had previously worked at Fidelity Capital Markets and was president of Marco Polo Securities.

Derby joins Cabrera from Telsey Advisory where he traded global securities. He will take on the role of Vice-President for European Sales and Trading. Livio has gained experience having worked at Bank of America Securities and Brandes Investment Partners. His most recent role was as global securities trader with Mischler Financial and Numis Securities.

Morgan Stanley’s Stuart Breslow, who has been compliance chief at the firm for more than a decade, is retiring at the end of the year, according to a memo. He will be succeeded by William Fenrich, who has been a managing director in Morgan Stanley’s legal department since 2014.

Tom Glocer, the former CEO of Thomson Reuters, has joined fixed-income technology provider Algomi as a strategic adviser, while Howard Edelstein, the former CEO of BondDesk Group, has been appointed to Algomi’s board after serving two years as strategic adviser.

ITG announced Thomas Shpetner will join the firm as global chief compliance officer on April 12. Shpetner comes from RBC Capital Markets, where he oversaw compliance for the firm’s commercial banking business and also served as head of U.S. equities compliance. Prior to joining RBC in 2011 he held various positions managing regulatory audits and inquiries at Goldman Sachs, Barclays Capital and Lehman Brothers. He will report to ITG’s General Counsel Angelique DeSanto.

Piers Murray, co-head of listed derivatives and markets clearing at Deutsche Bank has resigned, according to market sources. New York-based Murray joined Deutsche in August 2012 as global head of fixed-income prime brokerage in the markets clearing business. He was later appointed global head of over-the-counter clearing and derivatives prime brokerage. Murray will join BNY Mellon in a senior listed clearing role.

Liquidnet’s London-based head of international corporate strategy, Per Loven has departed the firm, a company spokeswoman confirmed. In a statement, the spokeswoman said that Loven has made “significant contributions to establishing Liquidnet’s market structure expertise,” and added “we parted ways amicably and we wish him all the best for the future.” In his most recent role, Loven was responsible for developing new product offerings at the firm. He had reported to the group’s European chief executive, Mark Pumfrey.

Featured image by treety/Dollar Photo Club

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