BNY Brokerage, a subsidiary of The Bank of New York and member of BNY Securities Group, has promoted Ana Burke and Derek Morris to top management positions in an effort to address client demand for its DEx (Direct Execution Services) electronic trading and algorithmic platform.
Burke will head a new DEx Sales and Marketing unit responsible for distributing the DEx platform to clients and prospects on both the buy-side and sell-side.
Morris will become co-head of BNY Brokerage’s program trading business alongside Jim Bossert, while working closely with the DEx development team to expand the algorithmic trading capabilities offered directly to clients through the DEx platform.
Morris will also focus on new algorithmic business development both on the program trading desk and through the DEx platform.
“Ana and Derek both have tremendous credibility with our clients and are well-equipped to take our sales efforts to the next level,” said Carey S. Pack, president of BNY Brokerage.
Prior to her promotion, Burke served as BNY Brokerage’s director of connectivity services, heading up the firm’s electronic initiatives. A member of the firm since 1991, she has helped shape BNY Brokerage’s electronic trading strategy and implement its direct market access platform.
Morris previously was responsible for program trading business development. Before joining BNY Brokerage, he was senior vice president and director of marketing and sales for institutional products at Automated Trading Desk, LLC. Before that, Morris worked at Instinet for seven years, managing key sell-side clients.
BNY Brokerage launched DEx shortly after its acquisition of certain assets of Sonic Financial Technologies, a direct-market-access provider, in March 2004.