Sat, May 23, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Guggenheim prop trade unit announces seven hires, still on the hunt for trade teams

Tuesday, June 14, 2011
Opalesque Industry Update - Just three months after Guggenheim Partners launched a proprietary trading desk unit named Guggenheim Global Trading LLC (GGT), the company announced that it was aggressively hiring. While the firm is currently looking for 20-25 experienced trade groups it has already built a foundation with the announcement of seven new hires in management positions.

Joining the firm as CFO is Michael Carrieri, who previously served as a consultant to Blue Ridge Capital. Also filled were the spots of Director of Operations, CTO, CCO, General Counsel, Chief Risk Officer and Director of Recruiting and Due Diligence.

GGT is also still looking for experienced teams to handle trading in fundamental long/short equity, quantitative long/short equity, long/short credit and event-driven/risk-arbitrage.

When the firm announced the new unit Loren Katzovitz, who along with Patrick Hughs are the Managing Partners leading GGT said that the changing Wall Street landscape spurred the firm to take advantage of opportunities as large banks were being forced to end successful proprietary trade operations due to Dodd Frank regulation.

"Legislative and regulatory changes globally have created a unique timing opportunity with regard to the availability of high-quality traders and trading groups,” added Hughes in a statement. “The launch of GGT however, is not simply about access to talent; we further believe that the reduction in proprietary trading globally, as a result of the new regulatory regime, should ultimately result in wider investment spreads in arbitrage and other strategies.”

The firm’s initial roster of 7 includes alumni from Shumway Capital (Michael Leopardi, Director of Operations), Highbridge Capital Management (Thomas Wynn, CCO), Morgan Stanley (Sheryl Kaye, Director of Recruiting and Due Diligence).

The list of hires announced on Monday are:

  • Michael Carrieri, CFO
  • Michael Leopardi, Director of Operations

  • Santosh Varki, CTO

  • Thomas Wynn, Chief Compliance Officer

  • David Worley, General Counsel

  • Jules Buxbaum, Chief Risk Officer

  • Sheryl Kaye, Director of Recruiting and Due Diligence

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Comment - Top hedge fund managers talk about how easy their jobs have gotten, BlackRock to Schroders warn of Argentina’s $20bn bond glut, The 35-year “investment supercycle” is drawing to a close, says Bill Gross, Gundlach: When the Fed starts hiking rates, 'GET OUT' of this asset class[more]

    Top hedge fund managers talk about how easy their jobs have gotten From Businessinsider.com.au: Time was, before the financial crisis hit, corporate boards treated multi-billion dollar hedge fund managers like Jehovah’s Witnesses pounding on their doors and flashing bibles. But no more.

  2. T Rowe's challenge to Dell deal may fuel critics of 'appraisal'[more]

    From Reuters.com: An increasingly popular tactic used by hedge funds and others to extract more money from buyouts could soon face a major courtroom test when a big investor in Dell Inc may argue that it should be paid a higher price for the 2013 acquisition of the PC maker. The strategy, known as "

  3. News Briefs - Ergen says LightSquared plan unfairly favors hedge funds, Why hedge fund managers make good advisory clients, I learned a lot about dad-bros after spending 4 days in Vegas with 2,000 hedge funders[more]

    Ergen says LightSquared plan unfairly favors hedge funds LightSquared Inc.’s bankruptcy plan gives hedge funds that invested in the broadband company a leg up while blocking telecommunications firms from competing with it, a fund owned by Dish Network Corp. Chairman Charles Ergen said in

  4. Opalesque Exclusive: SEC approves proposed changes to Form ADV, '40 Act - comment period to follow[more]

    Bailey McCann, Opalesque New York: Hedge funds and providers of liquid alternatives will want to pay close attention to proposed reforms approved by the SEC yesterday. The changes will require more frequent reporting, as well as a closer look into social media, liquid alternative strategies, and

  5. New market regime has created more dispersion between managers[more]

    Komfie Manalo, Opalesque Asia: The month of April has marked the transition toward a new market regime, Philippe Ferreira, Lyxor AM’s head of research, managed account platform, commented in the May 5's Weekly Briefing. "The first quart

 

banner