A new equities trading desk is opening in the New York City area.
Berenberg Capital Markets, a subsidiary of German bank, Berenberg, has officially launched a new U.S. trading desk beginning today. The desk, looking to carve a slice of the growing equity volume trading pie, executes institutional orders for U.S and Canadian equities and ADRs, as well as European securities via Berenberg Bank.
The desk is head up by Led by industry veteran Scott Duxbury, formerly of Merrill Lynch and Rencap. Duxbury, who has over 25 years in the trading markets, came onboard the firm in Decmebr 2014 and has been building out his initial trading team of six since arriving. He held senior roles at Rencap Securities and Merrill Lynch where he worked in Australia, London and the U.S..
Among the new staff is Lars Schwartau, who moved to the U.S. in April as global head of trading & sales. Prior, he was trading from the bank’s head office in Hamburg and is charged with developing the U.S. business with larger institutional clients.
Berenberg has also opened U.S. offices in Boston, Chicago and San Francisco over the last 4 years.
Berenberg’s research team covers nearly 600 European stocks.
