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In The Press

Savvysoft hires Stanley Choung as Product Development Director

from Bloomberg News

By Fredrica Berger

NEW YORK-Savvysoft, which provides software and analytical services for derivatives trading, said it hired Stanley Choung, an equity derivatives trader at Morgan Stanley Dean Witter & Co., as director of product development.

Choung, 29, will work along side Rich Tanenbaum, Savvysofts founder.

"I have always wanted to work in an unstructured, progressive and entrepreneurial environment," Choung said in a release.

Choung went to work for Morgan Stanley as an associate in the information technology division after he graduated from the Wharton School at the University of Pennsylvania in 1992. He became a trader on the equity derivatives desk 2 years ago. Morgan Stanley has yet to find a replacement for Choung.

New York-based Savvysoft provides software and analytics for over-the-counter derivatives in equities, interest rate, foreign exchange, commodities and other markets. The products are used by more than 700 institutions in 15 countries, the company said.


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