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Monday, March 31, 2003

Foliofn, Back From the Dead?

by: Sean Hanna, Editor in Chief

Back in 2000 Foliofn was promising to make funds obsolete with its folio basket trading technology, now the firm is turning to fund firms and other institutional investors as key clients for its services. To oversee the shift, the firm has tapped Gordon Henderson as the president of its Foliofn Institutional division. That unit is targeting larger financial services companies, including broker-dealers, insurance companies, mutual funds and banks, said Steven Wallman, founder and CEO.

Foliofn's technology has garnered interest from unnamed "large financial institutions, both domestically and abroad," said Henderson.

"My role is to build on Foliofn's licensing successes of last year," elaborated Henderson. One of these areas is in multi-disciplinary accounts, or MDAs, that have caught the fancy of the managed account industry of late. He said the sales push will be focused on advisors and independent broker-dealers nationwide. "Over the next 3 months, we will put a lot of energy into strengthening our offering to these market segments," he explained.

Henderson is the former chairman of Global Trade Technologies, and chairman and CEO of both TradingLinx and BondNet Trading Systems. He also founded Corporate Bonds and was a senior vice president of the Chicago Stock Exchange.

Henderson has already made his first move by hiring, Greg Vigrass as vice president of institutional sales. Vigrass is targeting leads at financial advisors and advisory firms, money managers, and mutual funds and others participating in the separately managed account (SMA) industry.

Vigrass was most recently a sales and marketing vice president for Globenet Capital Corporation. Before that, he spent more than 10 years at Charles Schwab Institutional in sales and service roles.  

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