TRADING UP: Upward Moves Onward; Kahn Joins ICE


Andrew Upward, formerly head of market structure and research at Weeden & Co., has left the firm to join Jane Street. He will focus on coverage of the exchange-traded fund space at his new digs, according to his LinkedIn profile. He had spent almost a year and a half at Weeden. Before that, he was a market structure analysts at Rosenblatt Securities for nearly three years and earlier held a similar role at Fidelity Capital markets for four years. He also did brief stints at BNY Convergex, Midwood Securities, Harborwood Securities and began his career as an intern at Munder Capital Management.

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Andrew Upward, Jane Street

The Depository Trust & Clearing Corporation (DTCC) announced that Derek West, former Senior Director of Derivatives Oversight at the Quebec Autorité des marchés financiers (AMF), has joined the firm as Executive Director and Chief Compliance Officer for the firm’s European Global Trade Repository (GTR) business. West will be responsible for ensuring GTR Europe’s compliance with European Market Infrastructure Regulation (EMIR) trade repository requirements, as well as other applicable laws and regulations.  In addition, he will coordinate EMIR supervisory activities and examinations, as well as work closely with GTR senior management and the European Securities and Markets Authority (ESMA). At AMF, he was responsible for drafting and implementing Quebec’s Derivatives Act and regulations, and eight national regulatory projects, including trade repository recognition and reporting rules and mandatory central counterparty clearing rules. He also built a team that was focused on trade repository data aggregation and analysis. Previously, he was Director, Strategic Planning and Development at the National Futures Association in Chicago.

Ray Kahn joined Atlanta-based ICE, a spokesperson for ICE confirmed, following a ‘garden leave’ period of six months. He was previously Barclays’ global head of risk, treasury, resources and regulatory management, within its agency derivatives services in New York. Prior to that he led the bank’s futures clearing business.

BTIG has landed Drew Doscher has joined the firm as a Managing Director and Head of Fixed Income Credit. Doscher will also launch BTIG’s distressed debt and trade claim business, and will work to expand the firm’s high-yield and convertible bond capabilities. With extensive industry experience, he has spent his career focused on illiquid markets across high yield, distressed debt, loans, trade claims and private equities. Prior to BTIG, he was Head of Distressed-Debt Trading at Jefferies. Earlier in his career, Doscher traded distressed debt at Lehman, and later managed the global distressed-debt trading platforms at Barclays and UBS. He will be based in New York, he will report to Anton LeRoy, Managing Director and Head of Fixed Income, Currency and Commodities, at BTIG.

Instinet continues to grow its U.S. Equity Research and U.S. Equity Research Sales offering by hiring three senior people. Mike Wood joins as a senior equity research analyst covering the Building Products sector, David Gingeleskie and Eric Goldstein have joined as senior equity research salespeople.

The three pros bring a combined total of nearly 50 years’ equity research and research sales experience. Wood joins Instinet from Macquarie Capital and has 13 years of experience as a Building Products analyst. He has held similar positions at both buyside and sellside firms, including James Caird Asset Management and Bank of America Merrill Lynch. Gingeleskie joins the Instinet Equity Research Sales team from Deutsche Bank and has nearly 17 years of experience, which includes senior level positions at Morgan Stanley and Susquehanna Financial Group. Goldstein joins Instinet from Jefferies with 18 years of experience in the industry, including senior roles at J.P. Morgan and Bear Stearns.

BNY Mellon hired Jeff McCarthy in the newly-created role of Chief Executive Officer, Exchange Traded Funds. McCarthy will lead and execute the long-term strategy to drive growth in BNY Mellon’s ETF business. McCarthy joins from Nasdaq, where he was Vice President and Head of Exchange Traded Product Listings & Trading, having led the strategy and business execution of the Nasdaq Exchange Traded Product Listing (ETP) and Trading Market.

In a non-trading move, Goldman Sachs’s Dina Powell, head of the firm’s philanthropic efforts, is likely to be named to a role in Donald Trump’s administration, according to people with knowledge of the matter, Bloomberg reported. Powell, a partner since 2010, will be a presidential adviser, one of the people said, asking not to be identified discussing the private talks. Powell has worked closely with Ivanka Trump, but the president-elect’s daughter isn’t expected to have a formal role in the West Wing. The position means a return to government for Powell, who served in George W. Bush’s administration before joining New York-based Goldman Sachs in 2007.

Also at the white-glove broker, Goldman Sachs named Elisha Wiesel as its new chief information officer, assuming the role currently held by Marty Chavez, who will become chief financial officer of the global investment bank in April. Wiesel — who is currently chief risk officer for the securities division and global head of securities division desk strategists — will oversee the entire tech division.


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