Wednesday, 22 October 2014
Last updated 34 min ago
Oct 21 2013 | 11:02am ET
Lehman Brothers vet Joe Peta has joined Novus, a company that makes predictive data tools for investors.
Peta will serve as managing director of the New York-based firm's San Francisco office and oversee development of its West Coast presence.
During his 13 years with Lehman Brothers, Peta ran the firm's biotech trading desk, served as a sell-side market maker in New York and advanced into the role of partner, running the trading desk at the firm’s $200+ million long/short equity hedge fund in California. After leaving Lehman, he joined UBS’ electronic trading group and later moved to Nomura Holdings as executive director of equity trading.
“With nearly 20 years of industry experience, Joe brings a unique analytical expertise and highly valuable skill-set to our team,” said Basil Qunibi, Novus CEO and founder, in a statement. “Joe’s addition will help us to continue to expand and build our firm by helping clients make better investment decisions using our predictive data tools to maximize their returns and minimize their risks. We look forward to integrating Joe into our team and working with him to open our San Francisco office and further grow our West Coast business.”
After leaving Nomura in 2011, Peta wrote a memoir, Trading Bases, a Story About Wall Street, Gambling, and Baseball, which examined the overlap of critical reasoning used in baseball’s front offices and by asset managers.
Novus was founded in 2007 by a group of investors, data scientists and engineers to build a foundation that helps investors leverage their technology, data and analysis to generate higher returns.
The opening of the San Francisco office follows the opening, in June, of a Zurich office led by industry veteran Andrea Gentilini.
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