Rosenblatt Securities has announced that Tom Sanders, a long-time veteran of the international trading arena, has joined Rosenblatt as a managing director.
Previously, Sanders was a managing director at Bank of America where he ran the New York-based international desk, increasing revenues more than six-fold in the four years he was in charge. Prior to that, Sanders traded European equities for NatWest Securities and European, Latin American, and South African equities for UBS for more than a decade combined. Sanders began his career trading OTC stocks for Drexel Burnham and then McDonald & Co. He will be working out of Rosenblatt’s headquarters in New York.
Dick Rosenblatt, CEO, Rosenblatt Securities and one of six Executive Floor governors of the NYSE comments, “With the growth in international assets under management (AUM) far exceeding the pace of US AUM growth, we have had an interest in expanding beyond trading just US equities for some time now. In fact, we have been studying the European landscape particularly closely since 2002 when we launched our European subsidiary, RSI Europe, in Dublin.” RSI Europe has been marketing Rosenblatt’s US execution services to European institutions, but not trading in the local markets.
“We only enter new lines of business where we have expertise in addition to perceiving an opportunity.
Sanders brings that expertise, having successfully either started or run non-US trading operations at several large firms previously. And with both extensive developed and emerging markets experience, Sanders puts us in a position to cover trading needs throughout the world,” continues Rosenblatt. Rosenblatt says Canada and developed Europe and Asia may be the areas of greatest opportunity for the firm at the outset.
Kieron O’Brien, managing director, RSI Europe, remarks, “With the implementation of MiFID rapidly approaching in Europe and the proliferation of new venues like Chi-X, Project Turquoise, Equiduct, and others threatening to fragment the traditional exchange market in Europe much like the 1997 order handling rules revolutionised the US equity markets, we firmly believe that our market structure expertise and the efforts we have made for many years to navigate US and European customers through the complexities of the US marketplace will become similarly valuable to customers trading in other global markets, in particular Europe.”