May 25, 2006

Cantor Fitzgerald has hired Bill Adams as senior vice president and municipal bond trader in the firm's debt capital markets group. Based in Cantor's Memphis office, Adams will report to Bill Lawhorn, the firm's managing director.

Adams has more than 20 years experience in fixed income and municipal finance markets. His primary goal will be to build relationships with middle market financial institutions, and he will specialize in trading bank-qualified municipal securities and taxable municipal instruments. Adams previously was senior vice president and manager of the muni desk at First Tennessee.

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Dr. Robert Almgren, Ph.D., has been named head of quantitative strategies for equities at Banc of America Securities. Almgren joined BAS last year to help the firm develop algorithmic trading strategies for thinly traded and small-cap stocks. His new appointment expands his responsibilities to include all automated client trading methodologies. Before joining BAS, Almgren spent five years at the University of Toronto as an associate professor of mathematics and computer science. Almgren has an extensive research and consulting record in applied mathematics, optimal trading strategies and transaction cost measurement.

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Rosenblatt Securities promoted Jason Valdez, formerly vice president for strategy and business development, to director of trading.

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Reuters named Mark Redwood global head of its sales and trading division. The unit covers equity, treasury, fixed income, and commodities and energy customers, and their information and transaction needs.

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