Equity: Market round-up
John St John, head of equity capital markets at Dresdner Kleinwort Wasserstein, has been replaced by Paul van Issum, the current head of the syndicate desk, as part of a restructuring of the bank's integration of its equity capital markets business into its advisory and markets origination platform.
The new ECM team will incorporate equity syndicate, equity-linked products and a dedicated German ECM team led by Andreas Berstorff and Johannes Koehler.
ABN Amro has hired Raahil Bengali to head its equity risk and cross-product trading group. Bengali joins from Goldman Sachs where he worked for the past 12 years, most recently as co-head of the risk unit, responsible for managing esoteric and larger risk for Goldman's cash equity and volatility trading business. He is also a former co-head of European derivatives trading at Goldman.
The month in numbers:
7.7 – the number of seconds New York Stock Exchange specialists Spear Leeds & Kellogg, a division of Goldman Sachs, and La Branche, take to execute small market and small marketable limit orders for the 15 most-liquid NYSE stocks. The figures come from analysis of publicly available data by Celent, a financial services technology consultancy.