E*TRADE Securities Limited (E*TRADE) has effectively hired the electronic sales team from SunGard Global Execution Service with the appointment of Dipak Rajani and Joanna Bell.
Rajani and Bell, who join E*TRADE in July, will be the sales team responsible for expanding E*TRADE's electronic trading relationships with institutions including hedge funds, private banks and broker-dealers based in the UK and rest of Europe.
The team will be reporting to Frank Loots, Director of European Sales at
E*TRADE Securities, based in London.
E*TRADE's low cost electronic trading service provides direct access to 14 markets in the US and Europe. It is based on a proprietary front-end trading platform that provides a single order entry as well as basket trading capabilities.
Patrick Claridge, Managing Director E*TRADE Securities Limited, a subsidiary of E*TRADE Group Inc., said: "By hiring the team from SunGard, we will aggressively market our low cost electronic trading solution to European institutions. Based on our experience in the United States, we see a broad range of parties interested in electronic trading from start-up hedge funds to established private banks. In fact, electronic trading is one of the fastest growing sectors at E*TRADE's institutional division."
Claridge said: "As clients are demanding more services from brokers, E*TRADE's institutional business has diversified from its original
core of global execution and settlement to today providing electronic
trading, independent research and market making."
Prior to joining E*TRADE, Dipak Rajani was Managing Director of Sales at SunGard Global Execution Services responsible for establishing and selling the electronic direct access brokerage services in the UK and rest of Europe.
Previously at Bank of New York, Rajani was Vice President and Head Of Equity Dealing with active involvement in setting up BNY ESI International, the electronic brokerage arm. Prior to BNY, Rajani was a Director at Dresdner Kleinwort Benson Securities trading UK and European equities.
Before joining E*TRADE, Joanna Bell was Senior Vice-President, Sales and
Trading at SunGard Global Execution Services responsible for institutional sales of electronic direct access brokerage services in the UK and rest of Europe. Previously at Tradepoint Stock Exchange, Bell was Head of International Sales responsible for institutional sales across Europe and the UK and was actively involved in launching their European Trading platform. Prior to Tradepoint, Bell was Head of Sales at Star Data System Inc.
Background Note: E*TRADE Group, Inc. is a global provider of diversified financial services. In the UK, its subsidiary, E*TRADE Securities Limited, provides a service to retail, corporate and institutional clients. E*TRADE's retail business provides trading in domestic and international shares, Forex, CFDs, Self-Select ISA, PEP, SIPP and a comprehensive range of research and tools.
E*TRADE's corporate business provides companies with employee share benefit schemes. E*TRADE's institutional business provides global multi-currency trading, electronic trading, market making, institutional sales and independent research.
E*TRADE's institutional trading covers over 39 markets through regional
trading desks in New York, London, Tokyo and Hong Kong. With over 15 years experience, E*TRADE serves more than 700 global institutional clients. E*TRADE Securities Limited is regulated by the Financial Services Authority and is a member of the London Stock Exchange.