David Miller is a true veteran of the trading business, with a career spanning more than three decades. In fact, Miller has spent the vast majority of this century on the buy-side.
He is one of Invesco’s three regional trading heads, taking overall responsibility for the global asset manager’s trading operations in the European time zone.
Miller has held a leading role at the Henley-on-Thames-based asset manager since November 2001, a stint of over 14 years that has seen him not only hone his skills but witness the transformation of buy-side trading to the electronic-driven operation it is today.
He says trading desks are a far more integral part of the investment process these days and are often called on to advise the portfolio managers on the best way to trade particular positions and achieve positive outcomes.
Miller believes traders are now better equipped to use all their trading skills across a wide range of electronic technologies, as a result.
However, he maintains that high-touch trading is just as important as electronic methods as it enables some trades to be executed that might otherwise be impossible.
Prior to joining Invesco, Miller spent five years as a market controller at London-based stock exchange Tradepoint. The venue was one of the first electronic order driven exchanges.
His first key role in the industry was as a market maker at Smith New Court, which he joined in 1982 and spent 13 years on the desk and leaving before it was acquired by Merrill Lynch.
Miller says he intends to continue work on trading innovations to ensure his desk can provide the portfolio managers with every possible new trading tool available to give them the edge they need.