Daniel Ciment has been named Americas head of equities trading and execution at BNY amid a restructuring of the division.
Based in New York, he reports to Rob Lynch head of fixed income and equities.
John Goodheart, who held the role on an interim basis, will remain global head of fixed income and equities product.
The appointment follows the news that BNY exceeded the value at risk (VaR) threshold of its overall portfolio on a single day in the first three months of 2025, with a daily trading loss greater than US$3.2 million.
BNY did not comment on the loss.
The firm exceeded VaR once in 2024, in the final quarter of the year.
Ciment has 30 years of industry experience, holding senior roles including president and chief operating officer of Elwood Technologies, chief operating officer of IEX Exchange and global head of equities electronic trading at JP Morgan during his career. He has been a freelance electronic trading consultant for the past year.
