Institutional brokerage and execution firm WallachBeth Capital has added two industry veterans to the firm’s ETF execution division. Chris Hempstead, a 20-year trading market veteran joins as director of ETF execution, and Dong Lee, a 12-year ETF product specialist, joins as director of institutional sales.
According to Michael Wallach, co-founder and CEO of WallachBeth, “The continued growth in the ETF product arena, coupled with our firm’s unique approach to true best execution has struck more than a chord with the institutional investor community, and has required us to continuously ramp up our infrastructure with the industry’s most talented individuals.”
Hempstead most recently ran the ETF desk at Cowen & Company, and spent the majority of his career as a major exchange specialist responsible for ETF market-making for a broad list of issues.
Lee joins the firm after almost four years with The Vanguard Group, the industry’s third largest ETF issuer by assets, where he was responsible for ETF distribution for the firm’s institutional clients. Prior to that, he spent eight years as a vice president of institutional sales for Legg Mason, the global asset management firm.