Markit has hired Sal Naro, co-founder of USD3 billion hedge fund Sailfish Capital Partners, in the newly created role of co-head of equities, commodities and risk management. CEO Lance Uggla in London told DWO he had been in discussions with Naro for several months, while Naro was winding down his fund. A call to Naro, who starts Monday reporting into Uggla, was not immediately returned.

Naro will work out of New York, alongside existing unit head Niall Cameron in London. The equities, commodities and risk management unit grew more than 50% last year and Uggla expects it to grow further with the rise of exchange traded funds and the need for equity derivative valuation services. Naro previously spent seven years at UBS, most recently as global co-head of fixed income, when he also served on Markit’s board. Before that, he was global head of credit trading at Bear Stearns.