Markit, a financial information services company, today announced that Sal Naro will join its executive team.
Naro will join Markit's New York office as Executive Vice President and Global Co-Head of Equities, Commodities and Risk Management, in partnership with London-based Executive Vice President Niall Cameron.
Naro joins Markit from Sailfish Capital Partners where he was Co-Founder and Managing Partner. Sailfish, a multi-billion dollar fixed income hedge fund, wound itself down successfully before the current credit crisis. Previously, Naro worked at UBS for seven years, most recently as Managing Director and Global Co-Head of Fixed Income, a role that encompassed trading, syndication and research for all credit markets. He was also a member of the UBS Investment Bank Board of Directors.
Prior to UBS, Naro was a Senior Managing Director and Global Head of Credit Trading at Bear Stearns where he worked for close to a decade. Naro holds a B.S. in Business Administration from Long Island University, and is a member of the university's Board of Trustees.
Lance Uggla, Chief Executive Officer of Markit, said: "Sal's appointment to Markit's global executive team marks an important step in positioning the firm for the future, and will complement the existing leadership group while strengthening our U.S. presence across a variety of businesses. The calibre of Markit's management team allows us to capitalise on opportunities to grow both organically and through acquisition."
Sal Naro said: "I have worked closely with Markit for many years and have great admiration for the firm's success in bringing transparency and efficiency to the OTC markets. I consider Markit to be the firm of choice in the financial information services arena and I look forward to being part of its drive to improve infrastructure in the global OTC markets."