TD Securities Inc. is promoting a leader with a background in electronic trading to oversee part of the bank's equity derivatives business.
Managing director David Panko will move to become global head of equity derivatives trading as of June 2015. This is an expanded role for Mr. Panko, who already oversees the bank's automated execution group, where he is responsible for retail trade execution and institutional direct market access. He will continue in this position.
Mr. Panko has worked in Chicago and New York as well as Canada, with a focus on the electronic trading of equities and options. He has been with TD for more than a decade.
An internal memo on the appointment highlighted Mr. Panko's "extensive trading experience and strong technology and infrastructure skills."
The change comes as John Millet, the managing director currently in the role, retires from TD at the end of May next year. He has been with the equity derivatives group since 2006, and the bank since 2000.