David Schoenthal Joins First New York Securities to Further Develop Commodities and Foreign Exchange Trading Effort

NEW YORK--(BUSINESS WIRE)--First New York Securities, a diversified global proprietary trading firm, announced today that Bear Stearns’ veteran, David Schoenthal has joined the firm as a Partner. In his new role, Mr. Schoenthal will help to further develop the firm’s Commodities and Foreign Exchange trading effort. Mr. Schoenthal was with Bear Stearns for 16 years and most recently served as the head of the firm’s global Foreign Exchange and Precious Metals departments and was co-head of Fixed Income Emerging Markets. Prior to that, he led Lehman Brothers’ Global Foreign Exchange and Commodities business for more than 10 years.

“We believe there is a great opportunity to build upon our strong Commodities and Foreign Exchange business and David is the perfect person to lead that effort. His deep industry knowledge and impressive track record will help us to attract the most talented traders in the industry.”

Commenting on the appointment, Donald Erenberg, Managing Member of First New York Securities said, “We believe there is a great opportunity to build upon our strong Commodities and Foreign Exchange business and David is the perfect person to lead that effort. His deep industry knowledge and impressive track record will help us to attract the most talented traders in the industry.”

Mr. Schoenthal added, “First New York offers a tremendous platform that I believe is extremely compelling for seasoned individuals who have developed strong trading skills. I believe we can build upon our impressive Commodities and Foreign Exchange business by attracting a number of leading Wall Street professionals each with their own individual trading strategy.”

Founded in 1986, First New York Securities is a premier global proprietary trading firm. The firm’s diverse trading business spans multiple asset classes including equities, derivatives, fixed income, foreign exchange and commodities, and is backed by a state-of-the-art technology platform. Headquartered in New York City, with international operations based in London, the firm has more than 300 employees. To learn more about First New York Securities visit www.FirstNY.com.