---
title: "TRADING UP: Citadel Hires Knas in Chicago, CalPERS Names Interim CEO"
description: Personnel moves at an electronic market maker and a pension fund highlight this week's report.
image: https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/trading-up-citadel-hires-knas-chicago-calpers-names-interim-ceo-1.jpg
---

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[TRACE Turns 20](https://articles.marketsmedia.com/trace-turns-20)

 06.27.2016

 By John D'Antona

 Institution

# TRADING UP: Citadel Hires Knas in Chicago, CalPERS Names Interim CEO

 06.27.2016 By John D'Antona

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Citadel Securities has hired **Kraig Knas** for its Chicago office. Knas has joined as senior vice president, sales and relationship management in the firm’s fixed-income, currencies and commodities market making business. Previously, he was on the macro sales desk at Barclays, which he left in May. He will report to Angie DiCarlo, FICC sales and relationship Management.

OpenDoor Trading, a U.S. Treasury bond trading platform, has hired electronic trading pioneer **Michael Sanderson** and fixed income veteran, **Chris Ferreri**, to its advisory board. They join a board that already boasts bond market experts John Brynjolfsson and Kenneth deRegt, formerly of Pimco and Morgan Stanley respectively. Sanderson launched electronic brokerage Instinet in 1990. He has also been chairman and chief executive officer of Reuters Americas, where he oversaw all company operations in the Americas, and he led fixed income start-up Bonds.com, which was bought by the London Stock Exchange Group in 2014. He is currently CEO of consultancy MOS Solutions.

Ferreri, an expert in fixed income and market structure, spent more than three decades at Icap as a senior managing director. In addition to leading the effort to introduce electronic trading to the world’s leading inter-dealer brokerage firm, he was also responsible for the integration of voice trading protocols into a hybrid trading environment for cash and derivative products.

**If you have a new job or promotion, let me know at **[jdantona@marketsmedia.com](mailto:jdantona@marketsmedia.com)

The nation’s largest pension system, the California Public Employees’ Retirement System, has appointed an interim CEO and expects to have a permanent CEO in the coming weeks, the fund announced. **Douglas Hoffner**, currently the deputy executive for operations and technology, will move into the interim position on July 1, according to the announcement. Departing CEO Anne Stausboll officially steps down June 30 after leading CalPERS for eight and a half years. Hoffner joined CalPERS in July 2012, having previously served as undersecretary of California’s labor department.

Tradier, a provider of brokerage services, named **Stephen Ehrlich** chief executive officer. Ehrlich succeeds Founder Dan Raju who will assume the roles of executive chairman and chief information and product officer. Ehrlich has had a 25-year career in the financial services industry serving global retail and institutional investors and traders. Previously, he was the CEO and Founder of Lightspeed Financial and under his leadership Lightspeed expanded to become the fourth-largest retail broker-dealer. Prior to Lightspeed, Mr. Ehrlich was the CEO of the E\*TRADE Professional Trading Group, where he played a pivotal role in brokerage strategy, product and services.

J.P. Morgan named **Lori Beer** chief information officer for the firm’s corporate and investment bank. Beer joined J.P. Morgan in 2014 as CIO for banking, which encompasses investment banking and treasury services. Prior to that, she spent 15 years at Anthem, a health insurance company. Beer will report to global chief information officer Dana Deasy and CIB chief administrative officer Sanoke Viswanathan.

Also at JPM, **Brian Pomraning** has left his senior role in the bank’s electronic trading division, according to a source inside the bank. Pomraning was named head of Americas electronic equity trading just this year. Prior to that, he had been head of the bank’s equity electronic trading business in Europe, the Middle East and Africa, based in London.

SS&C Technologies, a provider of financial services software, has hired **Will Entwistle** as senior vice president, institutional and investment management. Entwistle brings to SS&C nearly two decades of experience in driving rapid sales growth in the financial services software industry. He will build out and lead SS&C’s North American sales team. Entwistle brings extensive experience in sales and relationship management organizations at Interactive Data Corp. and IBM Corp.

**Previous Trading Up reports**:

- [TRADING UP: Credit Suisse Vet Patel Joins BoAML; Kalafatis Departs CIBC](https://www.marketsmedia.com/trading-up-credit-suisse-vet-patel-joins-boaml-kalafatis-departs-cibc/)
- [TRADING UP: KCG Snags Fusco and Minchin from CS; Nasdaq Names Ptasznik CFO](https://www.marketsmedia.com/trading-kcg-snags-pair-sales-traders-apex-lands-mollica-institutional-business-head/)
- [TRADING UP: Auerbach Grayson Snags Six from KCG; Stockland Joins IEX](https://www.marketsmedia.com/trading-up-auerbach-grayson-snags-kcg-stockland-joins-iex/)

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