ASSET SERVICING

Cantor Fitzgerald brings on managing director to lead transition management business

Lance Vegna was named managing director and global head of portfolio solutions at Cantor Fitzgerald, where he will lead the firm’s transition management business.

The position is new. Mr. Vegna will lead a team based in New York and will focus on portfolio transitions, taking advantage of Cantor’s current multiasset secondary market trading business, said Sarah Lukashok, Cantor spokeswoman.

Michael Gardner, who was senior managing director and global head of portfolio solutions at Cantor, had led the firm’s transition management team out of London; he and that team were terminated in October.

Mr. Vegna was director and co-head of portfolio solutions at Macquarie Portfolio Solutions, the transition management business of Macquarie Group. Fred Fogg remains director and head of Macquarie Portfolio Solutions, said Stephen Yan, Macquarie spokesman. He would not comment further.