Penserra Securities, a US-based institutional agency broker, has hired Jason Valdez to its global program trading team.
Valdez joins Penserra from rival agency broker Rosenblatt Securities, where he was most recently director of trading. He was also a transition management portfolio trader for Russell Investment Services, helped to launch program trading at Thomas Weisel Partners and spent five years at Bear Stearns.
Valdez will initially be based in New York City, but will transfer to the California trading desk later in 2010.
“Jason is a key addition to an already growing institutional business and he will lead the effort to expand the firm’s program trading capabilities,” said George Madrigal, president and CEO of Penserra Securities. “With the team’s background in transition management, Penserra is well equipped to effectively execute the most complex of equity programs.”