For Lynn Challenger, the last seven years have been one big project: transforming a far-flung order processing operation into a centralized, multi-asset trading hub where the traders take responsibility for each and every order.
Mellon Capital Management’s managing director of global trading oversees nine traders trading equities, futures, currencies, fixed income securities and swaps from the quantitative money manager’s base in San Francisco. All told, group turnover is about $1.2 trillion annually.
Before joining the storied money manager in 2006, Challenger spent 16 years on the sellside, mostly as an options trader. While he says his broker-dealer background was not a factor in his hiring, he does expect his group to think and act like sellside traders.
“I strive to bring the sellside mentality to the buyside,” Challenger told Traders Magazine. “The way technology has moved, it’s really empowering the buyside to make their own trading decisions and choices and manage their own risk. They’re not just order processors that rely on sales traders to manage their orders. What we’ve been building on for the last six years is a true trading desk.”
For the full story, click here.
