There continues to be changes at ITG as the beleaguered independent broker continues to rehabilitate its image following a large fine and settlement with the Securities and Exchange Commission.
Bryan Blake will be joining the firm as chief executive of of TriAct Canada Marketplace LP, the firm’s Canada-based exchange and TMX Group competitor.
TriAct Canada, a wholly owned subsidiary of ITG, is the operator of MATCH Now, Canada’s premier broker-neutral dark book for registered investment dealers and their clients. Blake took up his role two weeks ago and joined from Bank of America Merrill Lynch in Toronto, where he served as vice president of electronic trading sales. Blake started his career at Manulife Financial in 1998.
Concurrently, Maureen O’Hara and Chris Dodds will be retiring from the firm’s Board of Directors.
O’Hara joined the Board in 2003 and has served as Chair since 2007. She will retire from the Board effective January 15, 2016. Dodds joined the Board in 2008. He will retire from the Board effective December 31, 2015.
Commenting on his retirement, Dodds said, “Due to demands from my other professional responsibilities, I have concluded, after several weeks of deliberation and discussion with the company, that it is time for me to retire from the Board. I wish the firm success in the years ahead.”
Saudi Arabias stock exchange has appointed an acting chief executive officer after the resignation of Adel Saleh Al Ghamdi, who earlier this year oversaw the opening to direct foreign investment of the Arab worlds biggest equities market.Al Ghamdi stepped down after more than two years in his position, according to a statement on the Saudi Bourse on Thursday. It didnt specify a reason for his departure.
Global Prime Partners has hired ex-Deutsche Bank global head of cap intro Sean Capstick to lead the firms prime brokerage business. He effectively replaces Kevin LoPrimo, former head of hedge fund services and equity finance at Global Prime, who left the firm in May. Capstick will focus on developing Global Primes PB business further, with the firm one of the first in Europe to set up the introducing broker model in 2010. Capstick also previously lead BAML’s European PB unit between 2010 and 2012, and has also held roles at Morgan Stanley and Goldman Sachs.
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EBS BrokerTec, ICAP’s electronic foreign exchange (FX) and fixed income business, has appointed Tim Cartledge as its chief strategy officer. In this role, Tim will be responsible for leading and delivering on the strategic direction of EBS BrokerTec, following the successful integration of EBS and BrokerTec in July 2015. Tim brings significant expertise in electronic trading within both the foreign exchange and fixed income markets, at a time when EBS BrokerTec is bringing together its two leading central limit order book platforms and disclosed trading venues EBS Direct and BrokerTec Direct.
Cartledge was formerly at Barclays Bank where he was head of global fixed income currencies and commodities (FICC) electronic trading from 2014 until May 2015. Between 2004 and 2014, he held various positions as managing director at Barclays Capital where he was responsible for building Barclays electronic FX business. Prior to this, Cartledge held roles at Dresdner Bank, Credit Suisse and Goldman Sachs.
Cartledge reports to Gil Mandelzis, chief executive officer.
Olmstead Associates, a provider of strategic and advisory consulting services, announced it hired Rob Hegarty as president. Hegarty will oversee all functions and personnel at the firm, driving growth and expansion across its advisory, consulting, and professional development businesses.
Prior to joining Olmstead, Rob was most recently the Global Head of Equities at Thomson Reuters, where he oversaw all equities businesses. Prior to that, he was Global Head of Strategy and Marketing, and Global Head of Market Structure at Depository Trust and Clearing Corp (DTCC). He reports to Stephen Alepa, chief executive officer.
Citigroup equity-trading head Kevin Russell left to become chief investment officer for an important” — but unnamed — client of the firm, according to a memo sent to the banks staff on Monday. People reporting directly to him will maintain their regional and, in the case of derivatives and Delta One, product-reporting lines. Russell had assumed the post at Citigroup last year. He spent more than two decades at the firm and the former Salomon Brothers, the investment bank acquired by Travelers Cos. in 1997 that later merged with Citigroup. Russells departure is the third to emerge this month from Citigroups broader securities division. Michael Caperonis, the banks head of equities trading for the Americas, joined Nomura, and Steven Kim, Citigroups former head of U.S. Treasuries trading, joined Jefferies.
