CHICAGO, Feb. 7, 2013 /PRNewswire/ -- Spot Trading LLC, a leading Chicago-based proprietary trading firm, announced today that company founder and Chief Executive Officer Robert D. Merrilees will take on the newly established role of Chairman. The firm has appointed Stephen A. Brodsky as CEO. Brodsky most recently served as the firm's Chief Financial Officer (CFO). Robin McInerney, currently Finance Director, Controller, will assume the CFO position. The changes will become effective on April 1.
Merrilees said: "I'm incredibly proud of what we have been able to accomplish as a firm in the 14 years since I founded Spot. I congratulate Steve on his new role and express my appreciation for his outstanding leadership. I have the utmost confidence in his ability to position the firm as it continues to thrive in a challenging market environment. As Chairman, I look forward to working with Steve and the rest of our management team in continuing to leverage Spot's strengths and maximize opportunities in the marketplace."
Said Brodsky: "I am honored and excited to assume the role of CEO. I appreciate Rob's confidence in offering me the opportunity to lead such an extraordinary group of talented individuals, and I know that as Chairman, his guidance and counsel will be invaluable. In embarking on this challenge, I am also fortunate to work alongside a seasoned management team to help position the firm for future growth and success."
Brodsky added: "I know that Robin will make a terrific CFO for the firm. I've had the pleasure of working with Robin for years and have continually been impressed with her talents and abilities."
Prior to founding Spot in 1999, Merrilees, 50, was Managing Director at proprietary trading firm Stafford Trading in Chicago from 1996 to 1998. Previously he was Managing Partner at G-Bar Limited Partnership from 1991 to 1995, after joining the firm in 1987. Merrilees graduated magna cum laude from Princeton University and received his MBA with Highest Honors from Northwestern University's Kellogg School of Management.
Brodsky, 42, became CFO of Spot Trading in November 2010. Prior to joining Spot, he was a Managing Director at Vernon & Park Capital from 2008 to 2010. Brodsky was previously the President of CHX Holdings, the parent of the Chicago Stock Exchange (CHX), where he also served as the exchange's CFO. Prior to joining CHX in 2003 as Senior Vice President, Strategic Planning, Brodsky was a Vice President in the Investment Banking Department at Mesirow Financial. He earned his Bachelor of Arts degree from Syracuse University and his Juris Doctor and MBA from Northwestern University.
McInerney, 41, is a Certified Public Accountant with 20 years of experience in finance and accounting. As CFO, she will have responsibilities that include ensuring Spot's continued fiscal integrity, leading the firm's efforts in strategic financial planning, and serving as a member of Spot's senior management team. Prior to joining Spot in 2009 as Finance Director, Controller, she served in various roles at R.R. Donnelley beginning in 2001, most recently as the Director of Accounting, Consolidations and External Reporting. McInerney received a Bachelor of Science degree in Accounting from Marquette University and an MBA in Finance and Strategy from Northwestern University's Kellogg School of Management.
About Spot Trading LLC
Spot Trading LLC (www.spottradingllc.com) is a technology-driven proprietary trading firm based in Chicago. Founded in 1999, Spot has grown to be a leading liquidity provider and market-maker for the U.S. exchange-listed equity options markets. Spot deploys a highly integrated model, where traders, quantitative analysts, equity analysts and technologists work closely together to capitalize on pricing opportunities in the market. Spot has developed an institutionalized and scalable trading platform that promotes collaboration, manages firm-wide risk and uses proprietary technology to enable high performance and a trading edge. Spot has been recognized as one of the "National 101 Best and Brightest Companies to Work For"™ by the National Association for Business Resources in both 2011 and 2012.
SOURCE Spot Trading LLC