Bank of America has formed an Electronic Trading Services (ETS) group, which is dedicated to developing and delivering a suite of electronic trading products to the bank's institutional investor clients. The move is part of BAS's strategy to become the technology leader in institutional trading.
Rob Flately has been hired to be managing director and head of ETS Marketing, Support and Strategic Alliances. He will report to the co-heads of the ETS group, Peter Forlenza and Ross Stevens.
Forlenza says: "From the outset our strategy has been to invest in talent and technology to help our clients optimize their performance. Our acquisition of Vector last year was an important first step in that direction, and the foundation on which we are developing leading applications for clients. The formation of ETS ensures dedicated resources within BAS to continually identify and deploy new solutions for clients."