Wells Fargo Securities, part of Wells Fargo & Company, has hired four senior program trading professionals to create a new program trading desk and to enhance its equity product capabilities.
Wells Fargo has said that Haresh Rana will head its program trading desk.
Rana joined Wells Fargo in July 2011 from JP Morgan, where he was executive director of the Delta One Trading Group.
Michael Lee has joined Wells Fargo Securities as a director and trader in July 2011.
Before joining Wells Fargo, Lee was an executive director in the delta one trading group at JP Morgan where he traded program trading risk and index arbitrage.
According to Wells Fargo Securities, Chris Johnson will join the firm as a director and head of program trading sales from Weeden & Co., where he was a partner in the program trading group.
Also, Kevin Kennedy will join the firm from Deutsche Bank as a director in the program trading sales group.
The new hires will be based in New York and report to Matt Brown, head of cash trading, said the company.