SG Cowen Securities Corp. has wooed a key Nasdaq trader away from CIBC World Markets. Michael Palazzi has joined the firm as managing director and head of Nasdaq business. Palazzi will be based in New York and report to Sambo Lewis, co-head of Equities at SG Cowen. Palazzi joins SG Cowen from CIBC World Markets, where he most recently headed the firm’s Nasdaq desk.

“Mike Palazzi will bring new strengths to our equities operation,” says Lewis. “Along with his considerable trading expertise, Mike brings with him a great reputation in the Wall Street community. He will enhance our efforts to make listed, OTC and sales trading more seamless at our firm.”

“SG Cowen’s reputation for ‘boundaryless’ Institutional client service is well known,” says Palazzi. “I am delighted to join their first-rate team of equity professionals and welcome the opportunity to play a meaningful role in continuing SG Cowen’s growth.”