Banc of America Securities names William Harts head of strategy, equities

Banc of America Securities names William Harts head of strategy, equities

Banc of America Securities has appointed William Harts as managing director and head of strategy for equities, with responsibility for design, integration and deployment of technology across the equities platform.

Harts will be responsible for electronic trading services (ETS) strategy and product development, including algorithmic and quantitative strategies, as well as oversight of technology across the equities platform.

Harts previously served as a consultant to Banc of America Securities.

Prior to starting his consultancy, Harts was executive vice president for corporate strategy at Nasdaq and was closely involved with the implementation and deployment of the exchange's SuperMontage trading platform.

Earlier in his career, Harts held various positions with Salomon Smith Barney, including managing director of strategic business development for global equities and co-head of global program trading. He also established an automated equity market making and trading operation for Lehman Brothers.

He began his career in IT and developed a data communications software package before transitioning to Wall Street.

In his new role Harts reports to Peter Forlenza, global head of equities, Banc of America Securities.

Commenting on the appointment, Forlenza says: "With more than 15 years of financial and technology experience, Bill is recognized as an authority on market structure and a pioneer in the areas of automated market making and algorithmic trading."

Harts appointment follows the departure of Rob Flatley from Banc of America Securities. Flatley, who was integral to establishing the ETS division, has left the bank to join Deutsche Bank Securities as a managing director and head of global electronic execution for equities.

However Flatley is just one of a number of staff to leave the unit. In February investment banking group Jefferies poached 13 staff from Banc of America Securities to grow its prime brokerage and electronic trading operations.

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