Nicholas Wells, Nomura Holdings Inc.’s former head of equities program trading, has left the bank and plans to join hedge-fund firm Millennium Management LLC, according to two people with knowledge of the matter.
Knight Capital Group Inc. faced growing pressure to find a savior as clients from Citigroup Inc. to Vanguard Group Inc. curtailed business with the firm following a software bug that triggered a $440 million loss.
Inside a nondescript office building in central London, a roomful of men and women sit at computer screens and talk over Skype with people in faraway places. Sharp-edged Cantonese fills the air, and a flat-screen TV emits a continuous din. It’s the chanting, singing Midlands crowd at Birmingham, England’s Villa Park Stadium: Liverpool at Aston Villa. The match has just kicked off.
John Phelan, who led the New York Stock Exchange into the modern era of competition and huge trading volumes and provided calm at the center of the storm when stock prices crashed in October 1987, has died. He was 81.