Outsourced trading solutions firm Tourmaline Partners has hired three senior professionals – Alex Goodman and Matt Sindell have joined as Managing Directors, while Darren Mazzuca has joined as Director of Operations. All threeare based in Stamford.In recent years, Tourmaline has achieved considerable growth as more buy-side firms become aware of the advantages of outsourcing all or part of their trading operations to a specialist provider. Recent spikes in volumes and volatility have accelerated this trend, particularly among funds looking to outsource in a supplemental capacity. The new hires are emblematic of this growth, as well as Tourmaline’s deep experience with all corners of the trading landscape, as they bring a diverse range of experiences and skill sets.
Goodman joins with more than two decades of trading experience across the buy and sell sides and multiple asset classes, most recently as Managing Director at Macquarie Capital, where he headed US cash trading. He previously served as Global Head of Equity Trading, ECM and Relationship Management at Hutchin Hill Capital, and before that was Head of Long/Short Equity Trading at Davidson Kempner. Goodman has also held senior positions at Bank of America Merrill Lynch, Citigroup, George Weiss Associates and Millennium Partners.
Sindell comes to Tourmaline with over 25 years of trading experience across the buy and sell sides. Most recently, he spent 13 years at Susquehanna International Group, putting his hybrid trading capabilities to work as a senior member of the equity and equity derivatives sales teams. Sindell earlier held positions at Cathay Financial and Ladenburg Thalmann.
Mazzuca has spent the past eight years as Vice President – Global Operations Manager at Gabelli Asset Management. In this role, he served as the point person for the firm’s Merger Arbitrage and SICAV-UCITS funds, managed the daily trade break process and worked with the IT team on numerous projects to increase overall efficiency and productivity. He previously spent more than a decade at BlackRock, rising to the role of Vice President – Portfolio Analytics, Client Services.
”As everyone on the buy side knows, there is a huge amount of buzz around outsourced trading,” says Goodman. “Tourmaline is the recognised standard-bearer in the field, and I am excited to be moving into not only a growth industry, but the leader in that growth industry.”
“I’m looking forward to putting my experience to work for Tourmaline,” says Sindell. “To have the chance to work with so many veteran buy-side traders is a unique opportunity. There is a real tailwind behind the outsourced trading space, especially right now, and with our global reach and independent structure, I believe we are uniquely positioned to provide unmatched execution solutions for our clients.”
”While it’s certainly a challenging time to be starting a new job, joining Tourmaline has been an easy transition,” says Mazzuca. “It’s a highly collaborative environment where we get to spend our days doing important work for clients with a diverse range of needs from us. I am thrilled to continue my work of streamlining middle-office processes at a truly innovative firm that is experiencing so much growth.”
“Alex, Matt and Darren will play instrumental roles as we continue to expand our business and provide the fully independent, market-leading outsourced trading solutions our clients have come to expect,” says Aaron Hantman, CEO of Tourmaline. “We offer a true buy-side trading experience, and hires like these let our clients know that we speak their language, have sat in their seats and are equipped to meet their unique needs. We could not be more excited to have them aboard.”
