Outsourced trading solutions firm Tourmaline Partners has appointed industry veterans Seth Hoenig and Aidan Toomey as Managing Directors.
Hoenig comes to Tourmaline with 20 years of trading experience and most recently served as Head Trader at Glenhill Capital. He previously worked as a trader at Sigma Capital Management/SAC Capital Advisors and Spear Leeds & Kellogg/Goldman Sachs. Toomey also brings 20 years of trading experience and comes to Tourmaline from outsourced trading firm Outset Global Trading, where he established the firm’s New York office. He has held senior trading roles at HSBC, JPMorgan, Jefferies and Raymond James, and began his career at Merrill Lynch, eventually serving as senior technology trader responsible for the TMT trading group.
“Seth and Aidan are emblematic of the diverse and deep experience of our trading team members,” says Henry Higdon, Tourmaline’s Co-Head of Global Equity Trading. “Seth’s extensive buy-side trading experience and Aidan’s commensurate experience on the sell side have brought them relationships and skills that will prove invaluable to our clients.”
“Working with Tourmaline as a client, I was always impressed by the way their platform and people enhanced my flexibility as a buy-side Head Trader – making me and my team more successful,” says Hoenig. “I saw firsthand how Tourmaline can extend a buy-side trader’s reach, make them more valuable, and complement what they do every day. I’m thrilled to now be a part of their team.”
“In the new, unbundled world post-MiFID II, buy-side firms need access to a wide range of tools for measuring and achieving best execution and for remunerating brokers for research,” says Toomey. “The scale of Tourmaline’s platform and its ability to address these challenges is second to none. I look forward to leveraging Tourmaline’s platform to bring great value to clients.”
Both Hoenig and Toomey are based in Tourmaline’s Stamford, Connecticut headquarters. Their hiring comes on the heels of Mike Manaster, Managing Director and former Head Trader at Scout Capital Management, joining Tourmaline from Williams Trading in March of this year.
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