LMAX Exchange appointed Daniel Lavigne as head of buy-side sales for Canada. Lavigne brings more than 25 years of buy-side experience, with relationships across the FX market spanning peers, banks and platforms, the exchange said. He joined LMAX Exchange from Ontario Municipal Employees Retirement System (OMERS), where he served as director of trading, responsible for FX trading and products. LMAX Exchange added that Lavigne’s appointment will help improve its global sales and product coverage model as it continues to expand and diversify its suite of global FX trading and liquidity solutions.  

Clear Street hired four trading and execution experts into its UK leadership team as it seeks to bolster its presence in the jurisdiction.  Among the new appointments is Luke Holmes, former head of equity sales, US clients at Kepler Cheuvreux, who joined the firm as managing director, sales trading. Clear Street also named Matthew Cyzer head of markets execution. He joined from TD Cowen Execution Services where he most recently served as chief executive. Also from TD Cowen is Tarquin Orchard who was named global head of event-driven strategies. In addition, Phillip Hylander was appointed managing director, execution, following two years as chief executive of OREGEN Technologies. 

Autonomous, the financial services research business division within Bernstein, appointed two new US bank analysts. Ken Usdin was appointed co-head of the Autonomous US business, covering large-cap banks. He brings 27 years’ worth of experience in equity research, having most recently served at Jefferies. Elsewhere, Casey Haire was appointed managing director to cover US mid-cap banks. Haire brings 20 years’ worth of experience, also joining Autonomous from Jefferies.   

Longfellow Investment Management appointed Allison Goldie as fixed income trader. Goldie joined the investment manager from Morgan Stanley where she spent the last three years. During her tenure at Morgan Stanley, Goldie most recently served as a trader, a position she held for over a year, having previously worked as a portfolio management associate. Elsewhere in her career, Goldie held various portfolio management-related roles at Eaton Vance.  

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Ed Tilly, chief executive of Clear Street, highlighted that these moves come as the firm looks to establish a “strong presence” in the UK, labelling the hires “a natural step in [our] global growth”.

He adds: “The addition of these leaders is another major step as we activate our mission.  Our success in the US illustrates that our client-centric approach sets us apart, and we remain eager to listen to our clients and expand where they want to see us grow.  Clear Street continues to attract top tier talent, ensuring our clients are in the best hands every step of the way.” 

Read more: Edward Tilly joins Clear Street less than a year after resignation from Cboe 

Among the new appointments is Luke Holmes, former head of equity sales, US clients at Kepler Cheuvreux, who has joined the firm as managing director, sales trading.

Holmes left the firm in September 2024 after five years, with his next role unconfirmed at the time. 
 
Clear Street has also named Matthew Cyzer head of markets execution. He joins from TD Cowen Execution Services where he most recently served as chief executive. 

Cyzer’s previous roles also includes stints as head of EMEA execution services at Deutsche Bank, head of Europe at BTIG, and co-head of European equity execution services at Goldman Sachs. 

Also joining from TD Cowen is Tarquin Orchard who has been named global head of event-driven strategies. He departed from the firm in August 2024 having most recently served as MD, head of international alternative equity strategies. 

In addition, Phillip Hylander has been appointed managing director, execution, following two years as chief executive of OREGEN Technologies.

“We are building a sustainable business in the UK with scalable infrastructure to ensure we continue delivering innovative solutions tailored to our clients’ needs.  These leadership appointments reflect our dedication to hiring top-tier talent and driving long-term success,” said Jacinda Fahey, chief executive of Clear Street UK and Europe.

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Vincent Hall joined Citi as an equity trader following two years at Citadel where he served in the same role. He returns to Citi after four years, having previously worked at the firm as associate vice president in emerging markets equity trading. Elsewhere in his career, Hall has also worked at BlackRock as an associate.

Edward Tilly is set to take over as chief executive of Clear Street at the end of this year. The announcement comes two months after Tilly’s appointment as president at the firm. He replaces CEO and co-founder Chris Pento. Upon his departure, Pento is set to assume an executive and partner role at White Bay, the family office of co-founder Uriel Cohen. He will remain on the board of directors at Clear Street. Since joining Clear Street Tilly has worked closely with Pento, jointly leading the firm through the next phase of growth.

Jack Boland joined Ilex Capital in a US equity trading and global equity capital markets role. He joins from Citadel where he had been serving for the last five years as an equity trader and senior associate. Prior to joining Citadel in 2019, Boland spent five years at BlackRock as an associate and later a trader and just under a year at HBK Capital Management as a trader before that. Previously in his career, he undertook several banking, capital markets, and portfolio management internships across PwC, KPMG UK, BlackRock, and Jefferies.

Elijah Ibrahim Diallo joined Magellan Capital as a multi-strategy trader, based in the UAE. He most recently served as an investment manager at ADQ and before that spent two and a half years as a senior trader and portfolio manager at Azimut. In his career, Diallo has also worked as an equity trader at Avalon Capital Markets. Previous experience also includes stints at EFG Hermes and Mubasher Financial Services.

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Upon his departure, Pento is set to assume an executive and partner role at White Bay, the family office of co-founder Uriel Cohen. He will remain on the board of directors at Clear Street.

Speaking to his departure, Pento said: “I’m incredibly proud of what we’ve achieved at Clear Street […] The blend of tech and finance talent at Clear Street has allowed us to build horizontally scalable technology, disencumbered from decades-old infrastructure, integrated with the best capital markets teams on the street. 

“Our product and service model is second to none, and our progress rolling out new technology solutions like Studio, our all-in-one portfolio management system, and service offerings like equity research and investment banking, has only accelerated.”

Since joining Clear Street Tilly has worked closely with Pento, jointly leading the firm through the next phase of growth.

Tilly resigned as chief executive of Cboe in September 2023, following the conclusion of an investigation – launched in August – that determined he had failed to disclose personal relationships with colleagues. 

Read more: Cboe names new chief executive as Edward Tilly resigns over undisclosed personal relationships 

“What Chris has achieved for Clear Street since the founding in 2018 is extraordinary, and I’m grateful for his vision and commitment to this innovative business,” said Tilly. 

“In a landscape dominated by legacy players, Chris had the vision to combine a cloud-native tech platform with non-bank prime-brokerage and a relentless customer-centric focus. That’s a winning combination that we are repeating and scaling across markets, client types and geographies. We look forward to Chris’ ongoing guidance as he and I work closely together for the rest of the year, and then as he continues his presence on our Board and assumes his new role at White Bay.”

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Chris Pento

The transaction is expected to close in Q3 2024.

Fox River encompasses a comprehensive algorithmic execution solution for US and Canadian equities. 

Chris Pento, chief executive and co-founder of Clear Street, said: “Fox River’s leading algorithmic trading capabilities add another key component to the value chain we offer. Known for their high-performance algos, white-glove service and flexible platform, Fox River has a longstanding and loyal client base, built on proven and respected products and services.

“This transaction further bolsters our suite of products tailored toward quantitatively focused clients.”

Following completion, Fox River is set to be integrated into Clear Street’s existing business. 

Read more: Instinet completes acquisition of FIS algo trading business 

“This transaction provides clear benefits to both firms. It allows Instinet to streamline our existing execution services offering and continue to concentrate our investment efforts on our core Algorithmic platform,” said Gerry Milligan, president and head of the Americas at Instinet.

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Edward Tilly was named president at Clear Street, 10 months after he resigned as chief executive of Cboe. In the role, Tilly is set to work closely with Chris Pento, CEO of Clear Street, jointly leading the firm through the next phase of growth. Tilly resigned as chief executive of Cboe in September 2023 following the conclusion of an investigation – launched in August – that determined he had failed to disclose personal relationships with colleagues. During his time at Cboe, Tilly was a driving force behind Cboe’s acquisition of BATS Global Markets in 2017, as well as overseeing the launch of products including 0DTE options.

Flavio Paparella was named managing director within BTIG’s global emerging markets fixed income group, joining from Seaport Global Holdings where he also served as a MD focused on LATAM fixed income. In the new role, Paparella will be based in New York and is set to focus on Latin American markets, as the firm seeks to expand its presence in the area. He will report directly to Stuart Kasdin and Pablo Melasecca, co-heads of Latin America and EMEA credit emerging markets. Previously in his career, Paparella ran the institutional structured products Latin America desk for RBC Capital Markets. He also previously served as managing director at both American Express Bank International and Deutsche Bank, Argentina.

Edmond de Rothschild Asset Management appointed Regine Wiedmann as head of distribution for the DACH region. Wiedmann brings more than 18 years of experience in asset management and sales in the German-speaking markets. She initially joined Edmond de Rothschild AM in June 2021 as co-head of sales Germany and Austria, later being promoted to head of sales Germany and Austria in January 2022. Before joining Edmond de Rothschild, Wiedmann served as an executive director at Goldman Sachs Asset Management, responsible for wholesale clients in Germany. Before that, she co-founded Vicenda Asset Management in Zug, Switzerland. Elsewhere, Wiedmann was head of marketing and key account manager at the investment boutique Tiberius Asset Management, also based in Zug, Switzerland.

NatWest Group named Jonathan Peberdy chief executive of NatWest Markets, following 11 months as deputy CEO. The appointment is subject to regulatory approval. Peberdy has been with the business for 25 years and has previously served as head of capital markets. He succeeds Robert Begbie, chief executive, commercial and institutional. NatWest Markets confirmed that Robert Begbie would assume the role of chief executive permanently back in June 2020, having led the business on an interim basis since December 2019. At the time, his appointment was a key feature of the first major leadership restructure by Alison Rose, the chief executive of RBS.

GLMX appointed David Nicol as head of commercial operations. Nicol was promoted to the role after initially joining GLMX as a consultant in December last year. Previously, Nicol served as chief executive and co-founder of corporate bond trading ecosystem LedgerEdge. Before serving at LedgerEdge, Nicol spent nearly two and a half years at R3, most recently serving as a product manager. This followed a five-year stint at IBM, where he also served as a product manager.

Liquidnet appointed Jeffrey Crane head of international for the Americas, as part of the firm’s continued investment in its cross-border business. Crane brings more than two decades of experience in institutional equity trading to the role. He joins from SageTrader where he most recently served as managing director and head of sales, overseeing new business growth for domestic and international trading. Before that, Crane spent more than 20 years with Instinet where he held various positions, including managing the firm’s cross-border business as head of the international desk in New York.

Honor Woods was appointed equity trader at RBC BlueBay Asset Management, based in London. Woods has previous experience working in the institutional equity trading team at AB Bernstein.

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In the role, Tilly is set to work closely with Chris Pento, CEO of Clear Street, jointly leading the firm through the next phase of growth. 

Edward Tilly

Speaking to the appointment, Pento asserted: “The time is right for us to welcome Ed to the executive team as we continue to super-charge our growth plans and take Clear Street to the next level.”

Tilly resigned as chief executive of Cboe in September 2023 following the conclusion of an investigation – launched in August – that determined he had failed to disclose personal relationships with colleagues.

Read more: Cboe names new chief executive as Edward Tilly resigns over undisclosed personal relationships

Cboe Global Markets appointed Fredric J Tomczyk in his stead, effective immediately. 

The investigation led by the board of directors and an independent counsel concluded that Tilly did not disclose personal relationships with colleagues, violating the company’s standards and values. 

During his time at Cboe, Tilly was a driving force behind Cboe’s acquisition of BATS Global Markets in 2017, as well as overseeing the launch of products including 0DTE options.

Read more: The 20 biggest mergers and acquisitions of the last two decades

Speaking in an announcement, Tilly stated that he is thrilled with the appointment, adding: “Having spent more than thirty years in the financial markets hyper-focused on innovation and accessibility, Clear Street has an exciting opportunity and I am looking forward to working with Chris and his team.”

Other recent appointments from Clear Street include: Atul Pawar, former Goldman Sachs head of US prime, clearing, FCM and counterparty risk, and Jon Daplyn, Morgan Stanley’s former technology head.

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Trading Technologies International (TT) appointed Gavin Miller as its new director of EMEA sales – TT Fixed Income. His move follows almost five years at fixed income aggregation and surveillance technology business, Algomi. Miller is a Bloomberg veteran having spent over 20 years at the company, holding several senior positions, including: global head of sales and account management (global markets electronic trading); global head of fixed income, currencies, commodities electronic sales; and global head fixed income electronic trading sales. Prior to joining Bloomberg, Miller worked as a credit trader at Salomon Smith Barney – now Morgan Stanley Wealth Management.

Redburn Atlantic appointed Lisa Christou as head of sales trading, US equities to international. Before taking on this role, Christou served as a US equities sales trader head at Atlantic Equities before its merger with Redburn, which was completed last week. Prior to joining Atlantic Equities, Christou spent six and a half years at Cantor Fitzgerald as a US equity sales trader, following eight and a half years at Wells Fargo in a similar role. Elsewhere in her career, Christou held a securities lending equities position at Citi.

Lily Chia was named the new head of equities and FICC sales at Singapore Exchange (SGX), working across Singapore, ASEAN, Middle East, India, and Australia. In this new position, Chia, who has spent almost two decades at SGX in various roles, will lead sales for equity, equity derivatives and FX derivatives. Most recently, Chia was head of business integration and  portfolio management, technology and prior to this, worked as head of commodities specialists and execution/clearing specialists. Before joining SGX, she spent three years as middle office and credit manager at DBS Vickers Securities, and before that worked as a senior associate working in corporate strategy at SIMEX.

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Clear Street has appointed Christopher Smith as chief executive officer of its futures clearing business.

Smith brings more than 30 years’ experience in the capital markets sector to the role, having worked in various exchanges and regulators, alongside helping develop market and industry standards.

He joins from ED&F Man Capital Markets, a company he founded that provides direct access to global markets across a wide range of asset classes including futures, metals, FX equities and fixed income. Smith built a futures clearing merchant from scratch to become the financial services subsidiary of ED&F Man group.

In his new role, Smith will report to Chris Pento, co-founder and chief executive of Clear Street, overseeing the development and execution of the firm’s futures clearing services.

“We’re confident that Chris is the right person to lead the growth of Clear Street’s futures clearing business,” said Pento.

“With his deep industry expertise and extensive connections, Chris will be an invaluable addition to our leadership bench.”

Last month, Clear Street revealed intentions to enter the futures clearing market with the acquisition of React Consulting Services and its proprietary, cloud-native futures clearing platform, BASIS.

The firm plans to expand into futures fall in line with its goal to become a single-source platform to serve various investor types on a global scale across multiple asset classes.

Read more: Clear Street to acquire clearing platform provider React

“I am delighted to be joining the impressive team at Clear Street, a firm powered by the latest technology, with world-class infrastructure to give its customers the edge when trading across today’s complex markets,” said Smith.  

“Clear Street’s plan to move into futures clearing signals its ambitions to provide a comprehensive offering in capital markets, and I look forward to helping achieve its goals.”

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New York-based independent prime broker Clear Street is set to expand into the futures market – subject to regulatory approval – with the acquisition of software developer, React Consulting Services.

React’s proprietary, cloud-native futures clearing platform, BASIS, will be integrated into Clear Street’s existing platform – which currently encompasses cloud-native clearing, settlement, execution and custody. With this move, Clear Street’s offering will finance US equities, options, fixed income, and futures.

The integration is set to be phased, beginning with connecting the platform to futures exchanges in early 2024.

Sachin Kumar, co-founder and chief technology officer at Clear Street, said the acquisition will accelerate the company’s product development timeline and added: “Integrating BASIS will give our customers seamless access to futures alongside our equity, options, and fixed income offering in one platform.

“[This acquisition] brings us closer to a single platform for every asset class, in every country, and in any currency,” he added.

Ten employees from React, including the business’ co-founders Pat Mayo and Dave Evans will join Clear Street, with Mayo and Evans taking on the roles of managing directors at Clear Street Technology. All new employees will report directly to Kumar.

“The React team shares Clear Street’s vision for a unified prime brokerage platform and believes deeply in the Company’s mission to build modern financial infrastructure for today’s institutions,” said Mayo. 

Last month, Clear Street announced that it was set to launch a new investment banking business named Strategic Advisory Services to offer strategic advisory, transaction and creative capital solutions to emerging growth companies.

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