First New York Adds Traders, Including SAC, Galleon Vets

Jan 19 2011 | 1:03pm ET

First New York Securities, the proprietary trading firm planning to launch its first hedge fund, has made half-good on its pledge to hire 40 traders to lead that effort.

The firm has hired 19 traders, to be exact, it said today. Most of the new hires joined the firm from banks, with a smattering of hedge fund veterans thrown in as well.

Among the alternative investment pros joining First New York are Alain Delelis, formerly of Vega Asset Management and ex-global head of spot and proprietary trading at Credit Suisse, Robert Farrell, formerly of Soros Fund Management and Morgan Stanley, Mark Hill, formerly of Carlson Capital, Ken Lissak, formerly of several hedge funds, including SAC Capital Advisors, Eddie Sanches, formerly of Galleon Group, and Ram Seshadri, formerly of Balyasny Asset Management.

"We welcome these talented additions to our team and look forward to continued growth across business lines including domestic and international equities, macro rates, foreign exchange, commodities and fixed income," CEO Joseph Schenk said.

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