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Lehman Brothers has made two major additions to its equity derivatives staff: Nunzio Tartaglia, a renowned quantitative trading expert, and Frederick Appel, a managing director at Salomon Brothers who headed the UK equity and derivatives business.
Tartaglia is best known for his years at Morgan Stanley & Co., where he was mastermind behind Morgan Stanley's "black box" trading group, the secretive but highly profitable Analytical Proprietary Trading unit. He left Morgan Stanley in 1989, and most recently has been working for Harvard Asset Management.
At Lehman, Tartaglia will be a man aging director in charge of equity derivatives research and quantitative analytics, said Michael Rulle, managing director in charge of equity derivatives worldwide. Tartaglia will not head a proprietary trading unit like he did at Morgan Stanley, but...