BTIG LLC, a global financial services firm specializing in institutional trading, investment banking and related brokerage services, announced today that it has opened a new Chicago-based FX desk with the hires of Michael Artim, Brandon Walsh and Chris Karabelas.
Since establishing its global FX trading desk in New York in late 2012, BTIG has been increasing the scope and depth of its FX offering. Artim, Walsh and Karabelas most recently worked together at Newedge Group in Chicago and will each serve at BTIG as Directors of Foreign Exchange Sales.
“They’re a well-regarded team and complement our existing FX coverage,” said Martin Ferraro, Co-Head of FX at BTIG.
Artim is an industry veteran, having most recently served at Newedge as a Director of Financial Institutions. Prior to Newedge, he worked at BMO Capital Markets in foreign exchange sales and has also served in sales and trading roles for ABN AMRO, ING Bank and Paine Webber. Artim began trading in the commodity markets and expanded into trading in the metals, FX, interest-rate and option markets over his 25 year career.
Trading is as firmly centered in Chicago as it has ever been
Walsh joined Newedge in 2008 as part of the FX trading team. Prior to that, he was an FX trader and dealer in the Australian and Chicago offices of Fimat, one of the brokerages that merged to form Newedge. Walsh began his career as an analyst for Bank of America Securities, based in its Charlotte, NC office.
Karabelas also joined Newedge as an FX trader in 2008. He began his career at ABN AMRO in 2004 as an FX trader. The team will report to Alan Circle and Martin Ferraro, the Co-Heads of FX at BTIG and ultimately to Anton LeRoy, BTIG’s Head of FICC (Fixed Income, Currency and Commodities).
As part of this expansion of its FX group, BTIG also hired Michael Paravati as an associate in its New York office to assist with foreign exchange operations. Paravati has spent the last four years at Federated Investors in various operational roles.