TRADING UP: Santoro Exits Morgan; White Returns to Debevoise02.21.2017 By John D'Antona Editor, Traders Magazine
Morgan Stanley’s global head of equity trading, Peter Santoro, is leaving the firm, according to people familiar with the matter. Media reports have said he is joining hedge fund Millennium, replacing Hyung Soon Lee, the firm’s former equity chief. Following Santoro’s departure, Morgan Stanley has appointed Alan Thomas as its new head of equities, for the Americas. He previously served as co-head of prime brokerage and led Morgan Stanley’s financing business.
Also at the firm, Mike Wilson — now chief investment officer for its wealth management unit — will also be its chief U.S. equity strategist. Wilson will replace Adam Parker, who is moving to Eminence Capital to become its director of quantitative strategy.
Law firm Debevoise & Plimpton LLP announced that Mary Jo White, U.S. Securities and Exchange Chair from 2013 to 2017, is returning to the private sector and will practice law as and serve as Senior Chair of the firm. She was Chair of Debevoise’s Litigation Department from 2002 to 2013, prior to which she served as the United States Attorney for the Southern District of New York for nearly nine years. White’s practice will focus on counseling boards of directors and representing clients on significant and sensitive matters, including companies facing crises involving multi-faceted government investigations and cases. Her arrival follows the announcement that Andrew J. Ceresney will also rejoin Debevoise after serving under White as the Director of the Division of Enforcement at the SEC.
Former Associate Director of SEC Enforcement Division Stephen Cohen has joined Sidley Austin in Washington, D.C. Cohen will be a member of the firm’s Securities & Derivatives Enforcement and Regulatory practice. During his tenure with the SEC, he oversaw domestic and international enforcement activities involving accounting and disclosure fraud, auditor misconduct, the Foreign Corrupt Practices Act, insider trading, registered and unregistered securities offerings, market abuses, broker-dealers, investment advisers and other regulated entities. Prior to serving as Associate Director in the SEC’s Enforcement Division, he served as Senior Adviser to SEC Chairman Mary Schapiro, advising on policy and administrative matters focused mostly on enforcement and compliance issues, legislative matters and congressional hearings.
CLS Group, a provider of risk mitigation and operational services for the global foreign exchange market, appointed Gaynor Wood as General Counsel. Gaynor succeeds Alan Marquard, who has led both CLS’s Legal division and the Corporate Strategy and Development division. She joined CLS in November 2013 as Head of the London Legal team. Wood has held positions within the legal departments of a number of major investment banks in London. Prior to joining CLS, Wood was a Director and Associate General Counsel at Bank of America Merrill Lynch in London, with primary responsibility for legal support of the rates and FX business lines. She reports to David Puth, CEO of CLS.
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JonesTrading Institutional Services hired David Walrod for its New York office as a Managing Director. Walrod will focus his research on Financial Services, beginning with mortgage REITs, and expanding over time. JonesTrading research provides portfolio managers and traders with market color and information that aid in developing investment strategies. With over 20 years’ experience, he was an Equity Research Analyst at Ladenburg Thalmann, a Financial Sector Specialist at JP Morgan and a Senior Equity Analyst at Ridgeworth Capital Management. He began his career as an Equity Analyst at Keybanc Capital Markets.
Babelfish Analytics hired Mitch Pineault to lead its newly formed TCA offering. Also, the firm snagged Ian Weisberger to its lead its technology effort. Pineault onboards as Head of Business Strategy and be responsible for new business development, brand marketing, and creating strategic partnerships. He has spent the past 16 years building products to make the markets more transparent, most recently producing trading solutions at Pragma/Weeden. Prior to Pragma/Weeden, Pineault was a founding employee at Liquidnet. Weisberger, who is Vice President of Engineering, spent several years as a lead technologist at startup firms.
Chatham Financial, a vendor of debt and derivatives solutions, hired Alan DePonceau, a vet with 35 years’ experience in the FXIP market helping clients effectively manage FX risk and maximize profit. Prior to joining Chatham, he served as Founder & Principal at AMD Consulting, following roles at Susquehanna Bank, Commerce Bank, Travelex, and Citibank. Additionally, Mr. DePonceau co-founded the Regional Bank FX Forum.
Goldman Sachs prime brokerage executive director Emma Stevens has left the investment bank after 14 years. Stevens left this month having worked in hedge fund consulting within the prime brokerage department at Goldman for seven years since January 2010. She joined Goldman in December 2002 and worked as a compliance officer with the firm between December 2002 and December 2009. It is unknown what Stevens’ next move is or if anyone has replaced her at Goldman. A spokesperson declined to comment on her exit.
Andres Choussy has left his position as head of derivatives clearing for the Americas at JP Morgan. He will be succeeded in the role by Paul Davidson, who will be now be responsible for listed futures and options clearing, OTC credit and rates clearing and credit, FX and rates intermediation. Davidson will be based in New York and report into Nick Rustad, global head of clearing at JP Morgan. Davison has been with JP Morgan since 1999, initially spending six years on the floor of the CME in Chicago working on the equity execution desk, before joining the execution team in New York.
Agency-focused broker Convergex hired Robin Strong as a Managing Director. Strong is based out of the firm’s London-based office brokerage and will be responsible for expanding the firm’s broad range of commission management, research payment and outsourcing services to buy and sell-side investment firms on a global basis. A 25-year financial industry veteran, his responsibilities include delivering Westminster Research Associate’s unbundling and MiFID II compliant solutions to its growing European client-base. Prior to joining Convergex, he founded The Investment Data Utility and previously worked at Linedata. Strong started his career at Salomon Brothers in London and has also held senior positions at Fidessa, Charles River Development, Citadel Associates and Asset Control.
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