BTIG Beefs Up FX Desk

Jun 3 2013 | 11:04am ET

BTIG, a broker-dealer to the alternative investments industry, has made two hires for its global foreign exchange desk.

John (Jack) Wagg and Joseph Acosta have joined the (now) nine-member desk, launched last November and led by FX veterans and BTIG managing directors, Alan Circle and Martin Ferraro. Both new hires will be senior vice presidents and sales traders.

Wagg managed an overnight trading desk at Newedge USA from 2002 to 2011. Prior to that, he worked as the Asia shift desk manager for Prudential Securities in New York. Prior to Prudential, Jack also worked as a trader at two hedge funds, Caxton Corporation and MLC Investments.

Acosta worked as a director at QFS from 1999 to 2012, trading their currency, global macro and fixed income models. Prior to QFS, Joe worked as a senior trader on the foreign exchange desk at The Bankers Trust Company.

“Jack and Joseph are joining a great team with a long history operating in the FX space,” said Anton LeRoy, Head of FICC at BTIG. “With the increasing importance of FX to our institutional clients, we hope to announce additional hires later this year. We see foreign exchange as a natural extension of our firm’s offerings and believe that we can offer best-in-class-service with anonymous execution via our established network of interbank relationships and non-bank liquidity providers.”

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