Macquarie Group (ASX:MQG) announced on Tuesday that is has appointed three senior members to its US cash equities business. According to the statement, the new employees of the firm are an investment to strengthen and diversify the firm’s cash equities business in the country.

The three new employees of the Australian investment bank are Alex Goodman, Marc Racioppo, and Maynard Um. Goodman has been appointed as the Managing Director and Head of US Cash Trading. Marc Racioppo has been hired as an ADR trader and specialist in Asian equities. Maynard Um has joined the firm as a Senior Research Analyst covering automotive and disruptive technology companies.

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Goodman has held senior trading positions at Davidson Kempner, Citigroup, and Bank of America. He will lead a team of seven traders including Racioppo, who is joining the firm from Jefferies.

Commenting on the new hires, J.T. Cacciabaudo, Head of US Execution Sales, Cash Equities at Macquarie Group said: “technological advancements and changing liquidity avenues are transforming the way investors process information and execute trades.

“Accordingly, clients are demanding higher levels of specialization and efficiency. These appointments will help us deepen our expertise and enhance Macquarie’s market leading position.”

Automotive industry innovation

On the other hand, Um joins Macquarie from Wells Fargo, where he was a senior research analyst covering technology companies. At the firm, his role will be analyzing the automotive industry. He will specifically focus on the way technological innovation will transform the industry and related manufacturing. Prior to Wells Fargo, Um was a senior analyst at UBS where he also covered technology.

Christine Farkas, Managing Director and Head of US Equity Research also commented on Maynard Um’s appointment: “We are delighted to have Maynard join our coverage team and offer differentiated analysis that our clients need.”

“To understand today’s automotive industry, you must also have insight into technology and its disruptive potential. His background as a leading technology analyst is ideal for forming insight on the future of the auto industry.”

Macquarie Group is an international diversified financial group. The company is headquartered and listed in Australia. It employs more than 14,000 staff in 25 countries. In the US, Macquarie operates as Macquarie Capital (USA) Inc.