ITG dealt a major blow to JPMorgan's electronic equities trading desk by luring one of its top and longest running executives to head up its operations. The independent execution broker and research provider today announced that Frank Troise has been appointed as ITG's Chief Executive Officer and President. Troise will also become a member of the ITG Board of Directors.
Troise is no stranger to the electronic trading world. From 2010 until October 2015, Troise was a managing director at J.P. Morgan, most recently serving as head of J.P. Morgan Execution Services, its global multi-asset electronic execution group within the investment bank. Prior to J.P. Morgan, he was global head of electronic trading at Barclays Capital and head of U.S. electronic execution at Lehman Brothers.
Tim Webb has stepped down from managing BlackRock's biggest hedge fund, the $5.7 billion diversified fixed-income strategy, handing control to his deputy Tom Parker. Webb, who ran the hedge fund for five years, also left his post as chief investment officer of the model-based fixed income group to devote more time to leading the firm's international fixed-income business. Parker, who was deputy CIO for the hedge fund and model-based unit, took over as CIO for both.
Capital Institutional Services (CAPIS), the Texas-based broker-dealer, hired four new employees to meet the growing needs of the company. Cambri Thompson (pictured), Corbin Bahcall, Clayton Giraudin, and Lorenzo Ricketts have joined the firm as institutional sales account executives. They will be responsible for offering CAPIS' products and services to institutional investors and building client relationships. Thompson comes to CAPIS with over 10 years of sales experience in the oil and gas industry, construction industry, and technology industry.
Agency-focused broker Convergex has hired a new sales professional. Jon Simblist has joined Convergex's options team as a managing director and will oversee Convergex's buyside institutional sales initiatives as well as focus on options trading strategies.
An industry veteran, Simblist most recently worked at Instinet where he was head of electronic derivative sales. In addition, Simblist has a strong background in options trading and technology as well as creating and implementing trading solutions in listed options for hedge funds, asset managers, banks and broker dealers.
Susan Cosgrove, Chief Financial Officer of The Depository Trust & Clearing Corporation, was elected to New York City education nonprofit PENCIL's Board of Directors. PENCIL serves as the prime link between the City's business community and public schools to create partnerships that prepare students for college and career. DTCC has been an active partner of PENCIL for almost a decade. Currently, Susan and the DTCC team engage in a school partnership with Lower East Side Preparatory School in New York City.
Barclays has named Richard Evans, previously its COO for equities in EMEA, as its new head of equities business in the region. Before joining Barclays in 2012 he was head of Delta One strategies in European equities at Morgan Stanley and, prior to that, was global head of electronic trading at Citigroup. He was also a founding board member of the Turquoise trading platform. Evans has taken on the role from Jonathan Beebe, who has been handed a wider remit in his role as global head of equities trading within the bank's markets business. In other Barclays news, the firm officially named Jes Staley CEO last week.
Capital Institutional Services (CAPIS), the Texas-based broker-dealer, landed sales trader Marcus McNeal for its international trading desk. McNeal will be responsible for helping clients with their international trading needs including executing international orders on an agency basis, providing trading support, and building client relationships. Prior to CAPIS he was a financial representative with TDAmeritrade.
