Our Leadership Team

Anthony Castelli, Chief Compliance Officer and Director of Operations

Don Chisholm, Fixed Income Capital Markets

Joshua Deitch, Fixed Income Capital Markets

Andrew Frank,  Global Equity Trading Sales & Marketing 

Lee Geiger, U.S. Institutional Equity Sales & Trading

Robert Goddard, U.S. Institutional Equity Sales & Trading

Stephen Lowden, Transition Management

George Madrigal, Founder and Chief Executive Officer

Arnold Palatnek, Fixed Income Capital Markets

Robert Wade, Fixed Income Capital Markets

George Madrigal, Founder and Chief Executive Officer. Before founding the Firm, George spent more than thirteen years with Barclays Global Investors (BGI), now the world’s largest asset managers as part of BlackRock. While at BGI he held a variety of senior roles including Senior Portfolio Manager of international equity portfolio management and Head of Transition Management, a short-horizon portfolio management and trading solutions group where he managed a team of investment professionals including portfolio managers, traders, and research specialists. As Head of the Transition Management Group, George was also a Registered Representative and a General Securities Principal with the BGI affiliated broker-dealer, Barclays Global Investors Services (BGIS).  BGIS was responsible for executing a majority of securities trades for BGI Transition Management for institutional customers such as retirement plans, endowments, and foundations.  While a principal for BGIS, he was involved in billions of dollars of securities transactions covering U.S. exchange listed equities, U.S. over-the-counter equities, non-U.S. equities, U.S. government securities, U.S. mortgage-backed securities, and U.S. corporate debt.   As a portfolio manager, George developed a wide range of market experience covering a variety of other products including exchange traded funds, mutual funds, index futures contracts, currency trading, and non-U.S. equities for both the developed and emerging markets.  Before leaving BGI, he was responsible for leading the expansion of BGIS’ brokerage business to included fixed income securities.  George holds a B.S. from CSU Fullerton and graduate degrees from Columbia University (MBA with a focus in capital markets and securities analysis) and UC Berkeley (MBA with a focus in business strategy).  He holds security licenses 3, 7, 24, and 63

Anthony Castelli, Chief Compliance Officer (CCO) and Director of Operations. He was formerly the Chief Compliance Officer of Joseph A. Sangimino Inc., a firm tailored towards servicing institutional clients.  As CCO, Anthony was responsible for restructuring the firm’s entire compliance procedures and worked closely with Exchange Regulation to spot potential flaws in overall independent broker compliance.  Some of his notable work  included, but was not limited to the development of the Business Continuity Plan by analyzing the firm’s financial and operational risk, developed a transaction cost/commission analysis program for floor executions, instituted proper AML procedures as acting supervisor, maintained a correct error log and complaint file, formed and enforced standards of supervision, structure on opening new accounts, acceptable conduct of employees, rules on personal securities transactions, communications with customers, and created a successful general firm culture of compliance.  He acted as an equity trader, trading and accessing away markets from the NYSE floor before taking on full-time compliance duties at Penserra.  Anthony received his B.S. in Business Administration from Villanova University.  He holds security licenses 7, 14, 24, 25, 53, 55, and 63.

Global Equity Program Trading

Andrew Frank, Global Equity Trading.  Andrew is the Managing Director of Sales & Marketing for Global Equity execution products.  He has more than 20 years of experience in the industry on both the Buy Side and Sell Side.  For over 5 years he was a Vice President at Jefferies on the program trading desk where he worked as a Sales Trader covering US markets.  In addition Andrew was Vice President at HSBC Securities on the global program trading desk focused on the international markets.  He also worked at NYSE Euronext where he helped develop and build the MatchPoint trading platform for the exchange.  Prior to that, Andrew was Director of Sales for Instinet’s Crossing Network for 7 years.  His experience includes electronic trading, dark pools, algorithms, program trading, direct market access and market structure.  Andrew’s career began at Merrill Lynch and Sanford Bernstein where he worked in both sales and portfolio management.  He holds a BA in Political Economy from Tulane University and current holds his security licenses 7, 55 and 63.

Steve Lowden, Managing Director.  Steve is the Managing Director of Transition Management and Interim Portfolio Management products.  He brings over fifteen years experience across the buy-side and sell-side to Penserra.  He was most recently with Lazard Capital Markets (“LCM”) where he was an inaugural member of the first in-house, agency only electronic/program trading and analytics team at LCM.  A major contributor in the build-out of the desk and development of proprietary execution algorithms and in-depth analytics program.  Prior to that he spent more than eleven years with Russell Investments where he gained an extensive background across a broad range of functions, including trading (equity/derivatives), transition management and new business/product development.  As a senior portfolio trader/analyst he was responsible for the formulation and implementation of transition strategies for the Russell funds and helped pioneer the development and rollout of several new programs to enhance the efficient implementation of multi-manager funds.  In addition he spent three years in London as the regional director of portfolio structure where he built a team responsible for the development and implementation of all EMEA based products.  Steve received his BA from the University of Puget Sound and holds security licenses 3, 7 and 66

  Jason Valdez, Global Equity Trading.  Jason is the Managing Director of Global Equity Trading.  He has over sixteen years of industry experience primarily focused on program trading and transition management with his earlier roles including OTC market making, options and futures trading.  As Head of the Global Equity Trading Desk, Jason has experience accessing all sources of liquidity through ECNs, crossing networks, Dark Pools, algorithms, and floor brokers with a strong proficiency in trading small and mid-cap stocks.   Jason has experience working closely with quantitative strategists to improve trading models and engineer execution strategies.  In addition, he is very knowledgeable in the area of trading technology, transaction cost analysis (TCA), and US equity market structure. Previously he was the Director of Trading for Rosenblatt Securities where he was responsible for restructuring program trading along with its technology including middle office operational processes. Jason has also worked on the buy side as a senior US equity trader at Russell Implementation Services where he was responsible for transition management, mutual fund, and single stock trading. Additionally, while at Thomas Weisel Partners he was one of three traders hired to construct, implement and develop program trading and performance analysis.  He also managed the FIX connectivity effort to complement and enrich the existing single-stock platform for US and international clients. Jason received his B.A. from the University of California, Santa Barbara and currently holds his series 3, 7, 24, 55, and 63.

U.S. Equity Institutional Sales & Trading

Robert Goddard, Domestic Equity Institutional Sales & Trading.  Robert is a Managing Director and co-head o f U.S. Equity Sales & Trading.  He joined Penserra with twenty-five years of industry experience as a sales trader.  Robert has a history of building and expanding trading desks for the previous firms he worked with. Robert most recently spent six years at JMP Securities LLC where he was a partner and head of trading.  He spent eleven years at Montgomery Securities (NationsBanc/Banc America Securities) where he was a partner and managing director. Robert was a senior institutional sales trader, NASDAQ trader and helped manage the trading desk as the second in command.  Previous to that position he was a NASDAQ trader at Kidder Peabody & Co. Robert received his B.A. from the University of California, Berkeley.  He holds security licenses 7, 24, 55, and 63

Lee Geiger, Domestic Equity Institutional Sales & Trading.  Lee is Managing Director and co-head o f U.S. Equity Sales & Trading. Lee has almost twenty-five years of industry experience as a sales trader.  Over his career, he has built deep relationships with some of the largest asset management firms in the country.  Mr. Geiger most recently spent three years at JMP Securities LLC where he was a partner and head of sales trading.   He also spent six years at Montgomery Securities (NationsBanc/Banc America Securities) where he was initially a senior sales trader then co-managed the sales trading desk as a managing director.  Lee had previous sales trading positions with Robertson Stephens and Company and First Boston Corporation.  He has a B.A. from Claremont McKenna College and a M.B.A from Amos Tuck School at Dartmouth College. He holds security licenses 7, 24, 55, and 63.

Fixed Income Capital Markets

Don Chisholm, Fixed Income Capital Markets. Don is a Managing Director of Debt Capital Markets at Penserra Securities. Prior to joining Penserra Securities he was CEO of VCG Securities where his overall responsibility for the firm's direction, strategy, Investment Banking, Credit and Equity Capital Markets, and other product offerings. Don is a veteran fixed income sales trader and investment banker, with deep product expertise in high yield corporate credit, MBS and ABS. Prior to joining VCG, he was a Managing Director in Cantor Fitzgerald's Debt Capital Markets division. At Cantor, Mr. Chisholm was a senior high yield corporate bond and MBS sales trader, and was instrumental in building the firm's high yield group. Prior to joining Cantor, Don was a Senior Vice President with BB&T where he helped create and structure the high yield group and traded high yield distressed debt and private placements. Prior to BB&T, Mr. Chisholm was a top producing sales trader with Raymond James. Mr. Chisholm had his start on Wall Street as a proprietary convertible bond arbitrage trader.

Joshua R. Deitch, Fixed Income Capital Markets.  Joshua joined Penserra Securities as a Managing Director and Head of Fixed Income Corporate Credit Sales.  Prior to joining Penserra, he focused on assisting his corporate clients in identifying attractive buy-back opportunities, and in efficiently executing these buy-backs in the secondary capital markets at VCG Securities. Prior to joining VCG, Joshua served as Vice President at Cantor Fitzgerald's Debt Capital Markets Division. In his previous capacity, he was responsible for assisting a variety of US, Canadian and European-based corporations in buying-back their debt. Joshua drove corporate debt buy-backs totaling over $2 billion of face value over his tenure at Cantor Fitzgerald. Prior to Cantor Fitzgerald, he served as a Senior Vice President at BB&T Capital Markets, responsible for Corporate Debt Buy-Backs and Sales. Prior to BB&T, he worked on the floor of the New York Stock Exchange with LaBranche & Co Inc., a leading market-maker. Joshua is a graduate of Syracuse University. He holds a bachelor's degree in Finance.

Anthony Guaimano, Fixed Income Capital Markets.   Anthony joined Penserra as a Managing Director and Head of Trading for MBS, CMBS, ABS, Agency, and Municipal Debt.  He brings with him over 16 years of capital markets experience.  During his career, he developed significant experience in trading, sales, underwriting, investment banking, and executive level management.  Most recently, Anthony was director of MBS trading for SecureVest where his responsibilities included managing, trading and sales for all institutional mortgage related products.  Prior to that he was a partner at Stone and Youngberg where, over years he developed significant institutional mortgage securities trading experience including management and risk control responsibilities. In addition to his management and trading responsibilities, Anthony also performed the syndicate and marketing functions for S&Y’s institutional taxable debt placement activities, including both residential and derivative MBS securities. Anthony is a graduate of Fairleigh Dickinson University where he earned a BS in Finance. He holds securities licenses Series 7, 24 and 63.

Arnold J.Palatnek, Fixed Income Capital Markets. Arnold joined Penserra as a Senior Vice President and an investment grade corporate bond trader.  He has over 25 years of experience.  Prior to joining Penserra, Mr. Palatnek served as Head of Investment Grade Trading at VCG Securities.  Mr. Palatnek was instrumental in building trading platforms at Cantor Fitzgerald Debt, Raymond James and Lehman Brothers while trading all sectors of investment grade corporate bonds.

Robert J. Wade, Fixed Income Capital Markets.  Robert joined Penserra as a Managing Director and Head of Corporate Credit Trading.  He is responsible for all trading in distressed, high yield, investment grade and agency debt for Penserra Securities.  Prior to joining Penserra, Robert was Head of Credit Trading at VCG Securities.  Across his 22 year Wall Street career, he has run trading operations across a diversity of corporate credit and equity collateral for hundreds of institutional clients.  Prior to joining VCG, Robert served as Director of High Yield and Distressed trading at Cantor Fitzgerald's Debt Capital Markets Division. At Cantor, he built the high yield and distressed trading and sales desks. Prior to Cantor Fitzgerald, Robert was instrumental in building the high yield corporate bond trading desks at BB&T and Raymond James.  He began his career on the floor of the New York Stock Exchange, where he worked in a senior capacity for an equity specialist. Robert holds a degree in finance and economics from Mount Saint Mary's College.