23 August 2017
visit www.avoka.com

Morgan Stanley recruits Andrew Silverman to drive e-trading

12 July 2006  |  15007 views  |  0 Morgan Stanley web screen shot

Investment bank Morgan Stanley has hired Andrew Silverman, formerly head of algorithmic trading at Goldman Sachs, to lead its electronic trading business in the US.

Silverman has joined Morgan Stanley as a managing director and head of US electronic trading distribution.

He spent 14 years at Goldman Sachs, most recently as head of its algorithmic trading business in the US.

In his new role Silverman will report to Richard Portogallo, head of US equities, Morgan Stanley.

According to press reports, Jerker Johansson, global head of Morgan Stanley's institutional equities division, reorganised the unit earlier this year after more clients switched to automated trading. Matt DeSalvo, a 20-year Morgan Stanley veteran, was appointed to drive profitability in the business.

The bank has also transferred Scott Stickler into prime brokerage sales from the electronic trading group. Brian Fagen, Morgan's former head of electronic trading and portfolio sales, recently moved across the Street to Lehman Brothers

Earlier this year Morgan Stanley cut around 50-60 equity research jobs after increased use of electronic and direct access trading services by buy-side clients hit commissions.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Lehman hires Brian Fagen for e-trading push

Lehman hires Brian Fagen for e-trading push

15 June 2006  |  8538 views  |  0 comments
Morgan Stanley implements Thunderhead for OTC confirms

Morgan Stanley implements Thunderhead for OTC confirms

25 April 2006  |  7008 views  |  0 comments
Morgan Stanley adds 300 jobs at Glasgow operations

Morgan Stanley adds 300 jobs at Glasgow operations

05 April 2006  |  6400 views  |  0 comments
Morgan Stanley offers $15 million to resolve e-mail case

Morgan Stanley offers $15 million to resolve e-mail case

14 February 2006  |  10283 views  |  0 comments
Morgan Stanley fires four after strip club trip

Morgan Stanley fires four after strip club trip

05 January 2006  |  12272 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.eudownload the paper nowvisit www.vasco.com

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
20486 views comments | 43 tweets | 84 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
13385 views comments | 28 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11992 views comments | 22 tweets | 35 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
11253 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
11117 views comments | 10 tweets | 8 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job