Susquehanna Investment Group, one of the largest options trading firms in the U.S., has recruited Bob Gillis, director and trader in the New York portfolio trading and sales trading team at Merrill Lynch, said an official familiar with his plans. Gillis could not be reached. Kelli Crudo, spokeswoman at Susquehanna, confirmed the appointment, but declined further comment.
Susquehanna plans to initiate a portfolio trading business, with Gillis being its first hire for this project, said officials familiar with SIG's plans. Portfolio trading involves trading a portfolio, which may include over-the-counter derivatives such as puts and calls, in a single transaction.
Michael DuVally, spokesman at Merrill Lynch, declined comment. One Merrill insider said that Gillis is not expected to be replaced, with his responsibilities to be assumed by existing staffers.
