People

Execution Limited, a UK-based agency broker, has appointed Tony Nash as principal to build the firm’s portfolio and electronic trading platform. The new platform will be launched in Q1 next year.

Instinet, a global agency brokerage owned by Nomura Securities, has appointed Jonathan Kellner as president of its US brokerage subsidiary.

US agency broker BNY ConvergEx has appointed Thomas Carroll as executive managing director and chief technology officer.

French-owned broker CA Cheuvreux is to open a San Francisco office to improve services to its clients on the west coast of the United States.

TradingScreen, a provider of execution management systems, is to open a new office in Singapore to support buy-side client relationships in South East Asia and the Pacific region.

Investment bank Credit Suisse has launched a local equities platform in the Middle East and hired several senior staff to its equities business in the Middle East and North Africa (MENA).

Swiss banking group UBS has reshuffled the top tier management of its investment banking arm and strengthened its risk control function.

BIDS Trading, an alternative trading system (ATS) for the US equity block trading market, has named Marybeth Shay as senior managing director, sales and marketing.

James Cayne has stepped down as CEO of investment bank Bear Stearns, and has been replaced by Alan Schwartz, the company’s president. Cayne will remain chairman of Bear’s board of directors.

NYSE Euronext, a financial products and services provider, has hired Christine Sandler as senior vice president, North American sales. Sandler takes up her new post today and will be responsible for all aspects of the company’s sales and marketing efforts to buy- and sell-side customers.