People Moves: Cboe, State Street, Sifma, Arria NLG, and more

Cboe Appoints Stephen Berte as President of Bids Trading

Cboe Global Markets has appointed Stephen Berte as president of its Bids Trading unit. Cboe completed its acquisition of Bids Trading in December 2020. Bids has been the largest block trading alternative trading system (ATS) by volume in the U.S. for the last 65 months. He will lead Bids Trading as an independent business within Cboe Global Markets, reporting into an independent committee of the board of directors of Cboe Global Markets.

He has nearly twenty years of experience in equity trading and is joining Bids from Tourmaline Partners, where he was a managing director and founded and led its Boston office. Berte started his career in equity trading with Standard Life Investments in Boston where he was head of equity trading for the Americas and Asia Pacific, before becoming global head of equity trading, based in Edinburgh. He then went on to become head of investments execution for all asset classes in the Americas for Aberdeen Standard Life, leading a team of investment professionals across equity, fixed income, derivatives, FX and money markets, and was a member of both the investment management committee and the executive management committee.

State Street adds executives to digital division

State Street Corporation has announced that State Street Digital, the firm’s dedicated digital division, has added three veteran digital executives to its leadership team. Katie Richards joins as global head of operations and Marcus Grubb as global head of product. Both report to Nadine Chakar, head of State Street Digital. Additionally, State Street announced that Derren Selvarajah has joined as Product PMO lead for the Product Strategy team. Selvarajah reports to Grubb.

Richards, based in Zurich, will be responsible for driving the execution of State Street Digital’s strategy and developing sustainable and scalable operational solutions. She brings more than 25 years of experience in developing strategy, delivering digital products and services, building customer trust, leading teams, and transforming operational models across business functions. She previously served as chief executive officer of Cyber Capital, a crypto investment management company, and before that, held senior positions at Falcon Private Bank, UBS, and Credit Suisse.

Grubb, based in London, will be responsible for developing and driving end-to-end product strategy for State Street Digital. Previously, he served as director of market development and senior advisor for the World Platinum Investment Council, managing director of investment, global spokesperson and strategist for the World Gold Council, and chief executive officer of Swapstream, a derivates exchange system.

Selvarajah, based in London, is joining as the product PMO lead for the product strategy team. Previously, he worked with Standard Chartered Bank as global head of securities service tech, innovation, digital transformation, and delivery.

Sifma promotes Lindsey Keljo to head of asset management group

Sifma has promoted Lindsey Keljo to head the association’s asset management group (AMG). She most recently served as a managing director for the AMG and associate general counsel and joined SIFMA in 2014.

As managing director, head of asset management group and associate general counsel, Keljo will manage AMG and its team in coordination with the broader Sifma advocacy, legal, regulatory, operations and membership staff.

Keljo joined Sifma AMG from Squire Patton Boggs, where she advised financial institutions, corporations, and asset managers on a wide range of financial services legislative and regulatory developments. She has extensive experience representing asset managers before Congress, the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the U.S. Treasury Department, and other national and international regulatory agencies that promulgate and implement financial regulation.

Keljo is based in Washington, DC. She will report to Sifma chief operating officer Joseph Seidel and will serve as a member of Sifma’s management committee.

Arria NLG appoints Mark Goodey to lead investment analyst business

Arria NLG, a provider of natural language generation (NLG) technologies, has appointed Mark Goodey managing director and innovation strategist.

Goodey joins Arria from BNY Mellon’s data & analytics solutions. Prior to BNY Mellon, Goodey led teams at JP Morgan Asset Management, Aviva Investors, and F&C Asset Management, specializing in market risk and investment performance.

GLMX adds to executive team

GLMX Technologies, a solutions provider for trading money market instruments including repurchase agreements (repo) and securities lending, has announced the appointment of two senior executives: Gareth O’Loughlin as VP of engineering and Joseph Russo as director of money market sales. Based in New York, they will support GLMX in its next phase of growth and play an important role in the firm’s development of a fully integrated digital ecosystem for trading front-end products.

O’Loughlin joins from Gagosian, the largest commercial gallery in the art world, where he was the chief technology officer with global responsibility for all technology. He will focus on scaling GLMX’s engineering team to accelerate innovation and product development.

Russo has extensive experience in money markets having previously held various senior management roles at leading exchanges and global tier-one banks, such as CME, BNY Mellon Capital Markets, and BBVA. He will be responsible for cultivating client relationships and will provide strategic direction when building new products.