Allston Trading LLC, a principal-based electronic trading firm in Chicago that utilizes high frequency trading in some of its strategies, has named industry veteran Raj Mahajan, 39, to the position of CEO, the firm said today. At the same time, Carlton Jones, 37, who served as president and CEO, has assumed the role of chairman and remains president. The changes are effective today.
Mahajan was most recently President, Global Trading of SunGard Data Systems, running the 2,000-person stand-alone, global trading segment of SunGard, a $4.5 billion Fortune 500 technology company. He is relocating to Chicago from New York.
According to Jones in the firm’s release, Allson is making significant investments to expand its business and is actively recruit talent. In a statement welcoming Mahajan as CEO, Jones said, “He brings to Allston not only his in-depth understanding of market structure across asset classes globally, but a tremendous passion for trading and technology, an innovative spirit and a proven track record at building businesses, leading companies and scaling organizations. Raj’s leadership and experience in successfully developing and executing long-term strategies will accelerate our efforts to grow and diversify our revenue stream.”