Auerbach Grayson & Co, a New York-based brokerage firm specializing in global trade execution and exclusive in-depth research for institutional investors, hired industry trading veterans Doug Rivelli and Todd Trimmer. Both Rivelli and Trimmer will serve as co-heads of the firm’s U.S. Equity Sales and Trading desk. Also, the firm grabbed Jack Duffy who will serve as head of U.S. Trading.
The additions of the three are part of an expansion of the firm’s trading desk and global push. Overall, the team will consist of 11 highly seasoned investment professionals. Rivelli, Trimmer and Duffy have over 20 years of industry experience.
BATS Global has brought on two more veterans to help the exchange grow its market data and exchange-traded funds listings business. The bourse has hired Kal Chan and Rob Marrocco, as the Director, Market Data Sales and Director of Listings, respectively.
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Chan, who recently joined BATS, brings eight years of industry experience to the firm. Most recently, he was responsible for sales and account management at Interactive Data 7ticks where he worked with broker-dealers, investment banks and hedge funds to provide end-to-end trading solutions including trading access and market data. Prior to Interactive Data, Chan worked at Bloomberg as a sales and account manager, working with hedge fund and asset managers to provide trading analytics, electronic trading, and order management services tailored to clients’ investment strategies. He reports to Drew Carey, Director, Market Data Sales.
Marrocco came from the New York Stock Exchange (NYSE) where he was Associate on the Global Index and Exchange Traded Products team. In his role, he managed new exchange traded product (ETP) listings and supported NYSE Arca’s existing ETP business, liaising with issuers and market makers. Mr. Marrocco directed and administered NYSE Arca’s Lead Market Making (LMM) Program and worked with NYSE Regulation to ensure issuer adherence to listing standards. Marrocco reports to Laura Morrison, Senior Vice President, Global Head of Exchange Traded Products.
Goldman Sachs has hired former Morgan Stanley trader Adam Savarese to join its distressed-debt trading desk, according to people familiar with the matter. He will join Goldman Sachs as a partner, a sign of his seniority. Goldman Sachs rarely makes hires at partner level. His appointment follows a tough period for Goldman Sachs in the distressed-debt trading space. Bloomberg reported in August that the bank had taken a $50 million to $60 million hit as a result of a series of bad bets.
State Street Corporation (NYSE: STT) announced today that it has named Lou Maiuri to head its Global Exchange business. Maiuri, an executive vice president and industry veteran with more than 25 years of experience in technology and financial services, will report directly to Mike Rogers, president and chief operating officer of State Street. Prior to joining State Street in October 2013, Maiuri held various roles at BNY Mellon including deputy chief executive officer of asset servicing, head of the global financial institutions group within the asset servicing business and also as a member of the Operating Committee. Earlier in his career, Maiuri held the roles of chief operating officer and chief executive officer of Eagle Investment Systems LLC and worked at Fidelity Investments in both the fixed income and equity investments divisions.
