BondDesk Group LLC has appointed former UBS head of municipal trading John Bagley as president and senior managing director of BondDesk Trading.
BondDesk provides fixed-income technology and operates the largest odd-lot fixed-income alternative trading system in the United States. Odd lots are lots usually of $25,000 or less.
"John will be chiefly responsible for the BondDesk Alternative Trading System, the leading electronic venue for odd-lot fixed-income trading," said BondDesk chief executive officer Kim Bang.
"John will reinforce and expand the BondDesk ATS position as the most liquid electronic venue in the space. He will also help BondDesk navigate regulatory and market structure changes, develop innovative new product offerings, and further strengthen BondDesk's client and industry relationships."
"I'm excited for someone with John's depth of experience and record of success to join our executive team," Bang added. "With market structure and regulatory issues pushing an evolution of the fixed-income market like never before, we are confident that John is the right person to lead our team and we look forward to his contributions."
Bagley has 25 years of retail bond sales and trading experience. He was most recently head of muni trading, underwriting and institutional sales at UBS Financial Services. Before leaving in May, Bagley had been at UBS for 15 years. From 1992 to 1996 he worked in the municipal securities division at PaineWebber.
While at UBS, Bagley worked in muni bond trading, marketing and underwriting. He will work at BondDesk's New York City headquarters.
"I've been working in the bond markets for more than two decades, and right now may be the most interesting and exciting time to be on the front lines," Bagley said.
"The opportunity to work with BondDesk, which has been at the forefront of fixed-income innovation throughout its history, is one that I couldn't be more excited about," he said. "I look forward to working with the firm's strong and experienced leadership team, getting directly involved with clients, and working with all members of the BondDesk community in the years to come."
BondDesk Group provides enterprise-wide fixed-income solutions to over 2,000 investment firms.
The BondDesk ATS provides access to over 110,000 daily offerings of odd-lot fixed-income securities in a broad range of asset classes.
Bagley holds a bachelor of science in finance from the School of Management at Boston University and a master of business administration from Columbia Business School at Columbia University.