Sal Naro, executive vice president and global head of valuation and analytics services at Markit, has left the derivatives data specialist and join buy side firm Jefferson National. Naro, who has headed up Markit’s valuation and analytics business for the last two and a half years, since his appointment to the role back in November 2008, is now vice chairman at Jefferson National Financial.
Prior to joining Markit, Naro was with fixed income hedge fund Sailfish Capital Partners where he was co-founder and managing partner. Prior to Sailfish, he worked at UBS for seven years, latterly as managing director and global co-head of fixed income, a role that encompassed trading, syndication and research for all credit markets. He was also a member of the UBS investment bank board of directors. Prior to UBS, Naro was a senior managing director and global head of credit trading at Bear Stearns for nearly 10 years.
Markit has experienced a rather busy start to the year, with the acquisition of risk analytics firm QuIC and the departure of another senior executive, Markit Document Exchange (MDE) head Penny Davenport back in November and the subsequent exec reshuffle. It will be interesting to see who replaces Naro, given that QuIC has been absorbed into the valuations and analytics division.