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UBS appointed Carlos Salcedo head of capitalmarkets financing sales Americas, according to an internal memo seen by The TRADE. Effective from 1 September, Salcedo will be based in New York, reporting to Dan Murphy, Americas head of franchise sales. MEAG appointed Lydia Malakis head of institutional sales at MEAG.
RBC appointed two former Credit Suisse senior algorithmic trading individuals to join its low touch electronic sales and trading team. Also appointed to the low touch sales and trading team at RBC is Suzanne Webster, who joined as a multi-asset director. He joined from Luminex where he most recently served as head of sales.
Generative AI (gen AI) is predicted to impact over two-thirds of all functions across the capitalmarkets industry, suggesting that the technology has the potential to significantly transform all its segments—including assetmanagement. The majority of assetmanager have already started on this journey.
Dom Lowres, head of execution strategy and Matthew West, electronic sales trader, at Liberum are set to join Investec in the coming months to set up a new low touch electronic desk. Alongside him, Matthew West joins Investec as a global electronic sales trader. Aubry previously served as a credit trader at Mizuho and MUFG Securities.
Ryan O’Connor left Goldman Sachs AssetManagement and is set to join ETF provider Global X ETFs as chief executive on 8 April. He most recently served as global head of ETF product, having initially joined Goldman Sachs AssetManagement back in 2017 to build out the US fund strategist model portfolio business.
BNY Mellon made two key senior managing director hires into its fixed income and equity sales and trading businesses. Gould joined BNY Mellon after three years at RBC CapitalMarkets where she previously served as co-head of equities electronic sales and trading.
Previously in his career, Paparella ran the institutional structured products Latin America desk for RBC CapitalMarkets. He also previously served as managing director at both American Express Bank International and Deutsche Bank, Argentina. Before that, she co-founded Vicenda AssetManagement in Zug, Switzerland.
Previously, he served as global head of institutional sales at TP ICAP, and before that worked as head of sales EMEA and Asia Pacific at BGC Partners for two years. RBC BlueBay AssetManagement equity trader, Michael Tamou, left the assetmanager to join Qube Research & Technologies (QRT).
Northern Trust promoted Dane Fannin as its new head of global foreign exchange (GFX)and securities finance within its capitalmarkets business. Prior roles include four years as director of G10 and emerging markets FX at Dankse Bank, as well as director and FX trader at Societe Generale.
Redburn Atlantic has expanded its UK and European execution business with two new heads of sales trading. Tony Atkins was appointed UK head of sales trading. Atkins joined Redburn Atlantic in 2004 as a sales trader having previously served for eight years at Morgan Grenfell and two years at Marathon AssetManagement.
David Kirk is set to join Millennium, following almost three and a half years at Marble Bar AssetManagement where he most recently served as a trader, The TRADE understands. Kirk joins the capitalmanagement firm with experience working as a trader on both the buy- and sell-side.
He joined Cowen as managing director for fixed income outsourcing in February 2022, transitioning to commodities specialist Marex as part of the sale of Cowen’s outsourced trading and prime brokerage business at the end of last year. Other previous tenures include credit trading roles at both Barclays Investment Bank and Credit Suisse.
RBC CapitalMarkets appointed Giles Gleave and Mike Heraty as its newest managing directors, according to an internal memo seen by The TRADE. Heraty will take on the role of head of US equity solutions and structured product sales, whilst Gleave has been appointed as head of European equity solutions.
Head of EMEA equity trading at Janus Henderson and markets stalwart, Richard Worrell, is set to leave the institution for a sales role at the London Stock Exchange Group (LSEG), The TRADE can reveal. He will join the exchange group as head of secondary marketssales and business development in January 2024, sources have confirmed.
BNY Mellon has today announced the integration of Global Markets Trading (GMT), which will combine the firm’s capabilities in foreign exchange, fixed income, equities and capitalmarkets to provide full-service client provisions.
Sparacino has an extensive career in options trading after also previously in senior sales and options roles for four years at Dash Financial Technologies and six and a half years at ConvergEx Group. Ronan McMahon was appointed algorithmic sales trader at CLSA, following his departure from Morgan Stanley back in May.
The acquisition was completed earlier this month, with operations acquired set to be rebranded as Marex Prime Services and Market Outsourced Trading, with both becoming part of the Marex CapitalMarkets business (formed last year following the acquisition of ED&F Man CapitalMarkets). He will report to Blatch.
Since his initial role, Matuszewski rose up through the ranks going on to become product manager for equities, senior product manager and finally head of the asset class. Prior to joining Citadel Securities, Balladori served at the London Stock Exchange in its secondary market division for almost two years.
Head of EMEA equity trading at Janus Henderson and markets stalwart, Richard Worrell, is set to leave the institution for a sales role at the London Stock Exchange Group (LSEG). He will join the exchange group as head of secondary marketssales and business development in January 2024, sources have confirmed.
BlackRock selected a former FlexTrade order management system pre-sales specialist for a solutions engineering role on its flagship Aladdin platform. Grasso joined FlexTrade last year after three and a half years at Bloomberg, also with a buy-side OMS focus, most recently serving as an account manager for its AIM solution.
During his time with the assetmanager, Taitz was responsible for Invesco’s fixed income trading desks in the US, UK and Hong Kong. Prior to joining Invesco in 2016, Taitz spent two and a half years at RBC CapitalMarkets in a fixed income role and 10 and a half years at UBS Investment Bank as an executive vice president.
billion, posting its third best quarter for capitalmarkets ever – again in large part thanks to stronger performances in equities. Jefferies Jefferies’ results saw a net revenue of $1.74 year on year (up 47.9% from Q4 2023), fixed income net revenues remained consistent from year on year.
Josh Barkhordar, director, head of sales What more needs to be done to encourage institutional involvement in the digital asset space? There are pockets within the digital asset ecosystem where inroads are being made, primarily with respect to tokenisation. We need more regulatory clarity. That leads to greater fragmentation.
David Berney and Michael Broadbent run Ergo Consultancy which delivers what it refers to as provider “beauty parades” for buy-side organisations looking to outsource their trading, whereby it presents all the services in the industry to that assetmanager, hedge fund or asset owner.
Outsourced trading, though undoubtedly a contentious topic, is something that has been around in capitalmarkets for decades in some form or another. From Tourmaline’s perspective, Hantman asserts that the firm has been trading for multiple trillion plus assetmanagers for years, though these are unwilling to be named publicly.
Dominic Rieb-Smith, managing director, international head, prime services sales, JP Morgan, refers to the past year as “a standout”. Over the past year, each of the top 25 primes have increased their market share – according to Convergence – with 16 of those experiencing double-digit percentage growth.
The pandemic marked a seminal moment across the capitalmarkets, effectively drawing a line between the old world and the new. So balance is key here: there are obviously benefits to an internal trading desk within an assetmanager or hedge fund, but the same is true of the opposite for many in 2023.
He also previously worked at JP Morgan Chase for ten years, serving in different roles in global FX eCommerce business management and cross-asset eCommerce technology, based in London and New York. Stockholm-based Sjstrm Chanteloup joined from JP Morgan AssetManagement, having most recently served as head of Nordic ETF distribution.
Maddy Davies has joined BlackRock following almost two years as a trader within Liontrust AssetManagements multi-asset trading team. Specifically, the trading update said that the assetmanager was exploring deepening its existing strategic relationship with BNY for its non-UK activity.
TD Securities appointed Rob Fallon as director of sales trading, based in Dublin. Fallon joined the firm from Deutsche Numis, where he spent the last two years, most recently serving as director of sales trading. While at Goodbody, he most recently served as a senior sales trader covering Irish and UK SMID stocks.
Liontrusts chief commercial officer and former head of trading, Matt McLoughlin, left the UK-based assetmanager after 10 years, The TRADE revealed. Under his stewardship, Liontrust was awarded The TRADEs Multi-Asset Trading Desk of the Year and Mid-Cap Trading Desk of the Year in 2022 and 2017 respectively.
Prior to joining the firm, London-based Power served as a global multi-asset and derivatives trader at Newton IM, and before that as head of trading at Standard Life Investments. Power has also worked in derivatives-related positions at various firms, including: Ignis AssetManagement, Axial Investment Management, and RBS.
Beginning his career in 1990 as an FX dealer at Bank of America in Sydney, Grady has spent almost four decades working in financial markets across the globe. After two years in his first role, Grady moved to Bankers Trust AssetManagement where he spent four and a half years as an international equity dealer also based in Sydney.
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