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Cantor Fitzgerald Canada Corp. is making a push to expand its electronic trading business in Canada by hiring a new managing director.
Peter Gombocz is joining the firm as head of electronic and program sales and trading.
Shawn Matthews, chief executive of New York-based parent company Cantor Fitzgerald & Co., praised Mr. Gombocz's relationships with the institutional market, and said the hire was part of the firm's expansion of its global sales and trading platform.
"The growth of electronic trading and direct market access is well documented," said Laurence Rose, chief executive of Cantor's Canadian business.
Mr. Gombocz was hired in Macquarie Group Ltd.'s Canadian office in 2011 as part of the firm's push towards electronic trading, giving clients the ability to connect straight to exchanges through the firm's system.
Cantor wants to add to its capabilities, but it also wants to introduce new clients to the firm with this hire.
"With the addition of Pete's expertise, not only will we will be able offer this service to our existing clients who have been asking for it, but also welcome his network of clients that he has developed relationships with over many years to our platform," said Mr. Rose.
Mr. Gombocz left Macquarie last year amid the firm's many changes in Canada, including the sale of the wealth management business to Richardson GMP and the relocation of some capital markets activities to the New York office.
Mr. Gombocz briefly worked at financial information company S&P Capital IQ in Toronto before joining Cantor.