Ken Savio has joined the Macquarie Group as a senior MD and head of Macquarie Securities in the U.S. He will be based in New York. Savio was previously with Bear Stearns in New York, where he held a number of senior management positions, including global head of trading and sales trading.
Macquarie Group (“Macquarie”) (ASX: MQG; ADR: MQBKY) today announced that Ken Savio will join as a Senior Managing Director and Head of Macquarie Securities in the United States, effective May 16, 2011.
Mr. Savio will have management responsibilities across Macquarie’s US equities, trading, sales trading, research and derivatives efforts and will work closely with Macquarie’s management team to help further drive Macquarie’s growth in the region.
With a career history in equities, Mr. Savio brings more than twenty years of experience in building and managing successful equities businesses. He joins after a lengthy career at Bear Stearns in New York, where he held a number of senior management positions, including Global Head of Trading and Sales Trading, and Global Head of Convertible Securities. Most recently, he was Head of Global Equities at Cantor Fitzgerald.
“Ken’s appointment follows the very successful growth and operational build out of our US equities platform since the beginning of 2008. Over the past year, we completed 33 ECM deals in the US, of which 11 were bookrun by Macquarie1. Having someone of Ken’s caliber – particularly his experience in growing a franchise across a range of product lines – makes him ideally placed to drive further Macquarie’s forward momentum in the US,” said Stevan Vrcelj, Group Head of Macquarie Securities.
Based in New York, Mr. Savio will have reporting lines to Mr. Vrcelj, Todd Steinberg, Global Head of Derivatives Delta One, and Tim Bishop, President and CEO of Macquarie Capital (USA).
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Macquarie’s main business focus is making returns by providing a diversified range of services to clients. Founded in 1969, Macquarie operates in more than 75 office locations in 28 countries and employs more than 15,500 people. Assets under management total approximately US$321 billion as at March 31, 2011. For more information, visit www.macquarie.com.
About Macquarie Securities
Cash Division – operates as a full-service institutional cash equities broker in the Asia-Pacific region, South Africa and Canada and a specialized institutional cash equities broker in the US and the rest of the world. It provides equity capital markets products and services through a joint venture with Macquarie Capital.
Derivatives DeltaOne Trading Division – Combines the group’s institutional and retail derivatives, structured equity finance, arbitrage trading, synthetic product businesses and global securities finance. Global securities finance includes capital management, collateral management and securities borrowing and lending.
1 Figures based on Macquarie Group’s 2011 financial year ending March 31, 2011