Smaller brokers continue to capitalise on bulge-bracket exodus

Agency brokerages Execution and Auerbach Grayson have expanded their derivatives and research teams respectively in a further sign that smaller firms are continuing to lure executives from their larger rivals.
By None

Agency brokerages Execution and Auerbach Grayson have expanded their derivatives and research teams respectively in a further sign that smaller firms are continuing to lure executives from their larger rivals.

Nick Tranter has joined London-based Execution as head of derivatives to lead development of the firm’s institutional and hedge fund derivatives business. He will work alongside Garreth Hodgson, head of European equities, and will also have a seat on Execution’s European management committee.

Tranter has almost 20 years of experience of the derivatives market, most recently as pan-European head of equity and derivatives flow sales at BNP Paribas. He has also held a managing director’s role at Morgan Stanley and an equity derivatives research position at J.P. Morgan in London.

“Nick is an important hire and will develop our institutional and hedge fund client derivatives business, building on the derivatives trading success we have achieved this year,” said Hodgson in a statement. “He has a significant number of high-level relationships, with both dealing desks and fund managers, and will play a major part in the broadening of our offering through his knowledge of the full suite of non-cash equity products.”

Meanwhile, New York-based Auerbach Grayson has appointed former HSBC executive Paul Durham as senior vice president of global metals and mining equity sales.

Durham will sit on Auerbach’s new global resource sales desk and will oversee the firm’s research offering in metals and mining resources.

Before joining Auerbach, Durham was senior vice president of specialist sector sales in the global resources group of HSBC Securities, responsible for distribution of the bank’s domestic and international mining research to their partners.

“We are seeing increased investor interest in the global resource sector as it has shown compelling signs of growth in many emerging markets around the world,” said Jonathan Auerbach, managing director and co-founder of Auerbach Grayson.

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