TRADING UP: Selway Tweets Exit; Changes at Citi
Jamie Selway, ITG’s head of US market structure, tweeted his departure from the firm last week. In the tweet he said, “Today, I moved on from ITG. I leave with my heart full and head held high. I am particularly grateful for my partners, who globalized POSIT Alert, revitalized our algorithms, created a multi-asset strategy, and helped the company through challenging times. To clients, industry colleagues, and friends, I wish you well — and will see you soon.” Selway’s pedigree as an expert on equity market structure, is well known throughout Wall Street. Selway co-founded broker White Cap Trading in 2003 and was on the board of directors at exchange operator Bats Global Markets from 2008 to 2015. He has also been a contributor for Traders Magazine.
Citi has seen some high-level departures in the last two weeks. First, Sebastian Ridd, who had been head of program trading and cash trading in the US at Citigroup, has joined giant hedge fund Millennium Management. His departure from Citi, comes as global head of cash trading Armando Diaz has also decided to leave the firm. Diaz, who was hired in 2016 to revive Citi’s moribund global cash trading business, is leaving after his second stint at Citi. He ran US institutional cash trading at the firm up until 2011, when he left to join hedge fund Millennium Management. He also spent two decades at Goldman Sachs.
And lastly, Young Kang, Citi’s head of electronic cash trading in the US, has left the firm, according to people familiar with the matter. Additionally, Peter Lambrakis, formerly the US head of equity derivatives, is taking on an expanded role in the equities division as part of a strategic review Citi is conducting.
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Bank of America Merrill Lynch has promoted Kim Stolz, a managing director who was previously based in London as the head of equity derivatives hedge fund sales for EMEA, to take over as head of prime-brokerage sales in the Americas, according to people familiar with the matter
BNP Paribas has hired a new global product manager for its listed derivatives, prime solutions and financing business from Citi. Jason Stipe will now oversee the bank’s execution functions, focusing on direct electronic access, algorithmic trading, best execution and client distribution. Stipe has more than 20 years industry experience having worked most recently as product head of EMEA electronic execution within Citi’s futures, clearing and collateral business. He also spent over 11 years with the US bank in various senior roles including chief operating officer for both equities technology and prime finance, and futures technology. Prior to that, he worked at Lehman Brothers for more than 8 years as a project manager and business analyst for equities.
The global head of prime for Credit Suisse, Indrajit Bardhan, has left the bank to pursue “external opportunities”, according to an internal memo from head of global markets equity, Mike Stewart. Bardhan will be replaced by Paul Galietto, who is currently head of Americas equity, effective as of today. Prior to joining Credit Suisse, Galietto worked at UBS as head of equities Americas. Before UBS, he spent over 20 years working at Merrill Lynch.
BioCatch, the global leader in behavioral biometrics, announced it has appointed FinTech industry luminary Howard Edelstein as CEO. Edelstein will assume the CEO role while maintaining his current position as BioCatch Chairman, which he has held since 2016. Edelstein served as CEO of Radianz, now the financial network services division of BT. He also led a corporate turnaround at NYFIX (a delisted Nasdaq company), a strategic rebuild of BondDesk Group on behalf of private equity investors, and a carve-out of REDI Global Technologies from Goldman Sachs.
Siebert Cisneros Shank & Co., LLC, a minority – and woman-owned investment bank, has announced that Eloner Habtezghi joined the firm as Managing Director in the Corporate Finance and Capital Markets division, with a focus on energy, power and natural resources. Habtezghi brings more than 20 years of energy industry and investment banking experience to the firm. She was most recently a Managing Director at 2020 Global Ventures. She has also one stints at BNP Paribas, KPMG Corporate Finance, Banc of America Securities and JPMorgan.
JonesTrading Institutional Services LLC (“JonesTrading”) reported it hired and promoted five industry veterans. Gary Cunningham has been named Managing Director, Global Head of Sales, having previously served as CEO for JonesTrading International Limited. He has over 30 years of experience in the UK and U.S. equities markets, including time at Wedd Durlacher Mordaunt, BZW, Robert Fleming, and ABN AMRO. Gary was also CEO of Execution LLC’s U.S. based brokerage operations.
The firm has hired three new equity sales traders. Gerry Bergeron, who previously held positions at Baird, Knight Capital, UBS, and Lazard, has joined the Cos Cob office. Jonathan Montanus, who previously held positions with Ladenburg, Rodman and Renshaw, and Hudson Securities, has joined the New York office. Former NFL player, Steven Vieira, who previously held positions with Cantor Fitzgerald and UBS, has joined the Mill Valley office.
The firm has also hired Andy LeVeen in its Outsourced Trading Department. LeVeen, who previously held positions with Janney, Weeden, and Smith Barney, has joined the Charlotte office.
Cabrera Capital Markets continue to aggressively build out its Global Equity product and team, by adding William “Rod” Saines. Saines has joined as a Vice President in Sales Trading and brings over 15 years of experience. Prior to joining Cabrera, Saines most recently worked with CV Brokerage with previous experience at Blaylock Beal Van, Kota Global Securities, and Morgan Stanley.
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CIB as a whole does not meet the group return on equity target.
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