... And Larkin Replaces Him

Andrew Larkin has left Morgan Stanley to rejoin his old team at Investment Technology Group. Larkin was named managing director of client-site sales and trading. He will report to Ray Killian, ITG's chairman, president, and CEO. Larkin replaces Frank Troise, who moved to Lehman Brothers as a managing director in the electronic execution services group.

Larkin is charged with managing ITG's Client Site business line, including its Triton, Radical and custom-strategies trading groups.

Larkin says he's looking forward to getting back to ITG, where he believes electronic trading is a full-time priority. "Morgan Stanley focused on a lot of things. I like that ITG strictly focuses on this kind of business," he explains.

Before returning to ITG, Larkin served as Morgan Stanley's executive director in charge of account management in the electronic trading group for six months. He is no stranger to electronic trading. After beginning his career on the program trading desk at Salomon Brothers, Larkin spent 13 years at ITG, where he established ITG's London presence and oversaw the East Coast Sales and Trading Group.

However, he hopes his comfort with the organization and its employees will not allow him to lose site of the cutthroat state of electronic trading. "It's a challenge to compete in the environment that we're in," he says. "There's a technology arms race out there and a growing number of participants in the marketplace."