On The Move.(Edward Craig joins Jefferies and Company Inc. )(John Pastorelli rejoins Morgan Stanley)(National Stock Exchange Inc. appoints James Kearney)

Traders, June, 2007

Edward Craig became head of U.S. cash equities trading at Jefferies & Company. Craig, a managing director, replaces Ron Hammer, who has left the firm. Craig joined Jefferies last year to head trading of the broker-dealer's consumer, retail and gaming sector. In his new role, the 12-year industry veteran oversees all exchange-listed,

Nasdaq, and Bulletin Board cash trading. Craig retains his sector responsibilities. His promotion comes as Jefferies reorganizes its equities trading department. Last year, the firm organized the department along sector lines. In recent months Jefferies has brought in outside traders to increase its capital commitment. Ross Stevens, co-head of equities at Jefferies, said capital is necessary because agency is a "commodity," and the...

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