Seaport Adds Credit Suisse's Lynch for Equities-Trading Roleby
Lynch is co-head of institutional equity sales with Arthurs
Firm plans to hire 10 to 12 people on sales and trading desk
Seaport Global Holdings LLC, the New York-based brokerage, hired former Credit Suisse Group AG executive Scott Lynch as head of institutional equity-trading operations.
Lynch, 51, who had overseen cash trading in the Americas at Credit Suisse, is a managing director in the firm’s New York office, Seaport said Tuesday in a statement. He also is co-head of institutional equity sales with Tim Arthurs, 34, who’s based in Chicago and was formerly an institutional sales representative.
Seaport was founded by Mike Meagher and Stephen Smith in 2001 as a credit-market brokerage and later merged with energy-focused investment bank Global Hunter Securities, which was founded in 2005 by Daniel Conwill. Seaport has been adding equity-analyst and sales positions in the past year.
Equity sales and trading “is the highest growth opportunity within the organization at the moment,’’ Lynch said in a phone interview. “It’s the most exciting opportunity to really grow the amount of research coverage that we have, the content delivery that we do and to hire sales people.”
Seaport plans add 10 and 12 positions on the sales and trading desk in the next three months to focus on energy, shipping and industrial companies, said Lynch, who started at the firm March 15. The brokerage opened a Boston office for equity coverage this year, he said.
Expanding beyond trading energy-related fixed-income securities, the firm’s specialty, into equities will benefit Seaport “as the industry comes out of the doldrums,’’ said Lynch, who reports to head of equities Ed Lainfiesta.
“We believe there’s a real value play both in what’s going on in the industry and growth within our business,’’ Lynch said.
Dean O’Connor, a managing director, rejoined the firm’s equity sales and trading group earlier this month, according to the statement. Senior analyst Magnus Fyhr was hired as a managing director to cover shipping companies. Both men had been at GMP Securities until last month, according to records maintained by the Financial Industry Regulatory Authority.