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Orbitex Names President Of Distribution Subsidiary

Orbitex Funds Distributor has named Frederick Graboyes president, the company announced earlier this month. Orbitex Funds Distributor, the brokerage subsidiary of Orbitex Financial Services, serves as distributor and broker for third-parties as well as the Orbitex family of mutual and hedge funds.

Graboyes will be responsible for the expansion of the firm's institutional agency trading operation as well as the coordination and consolidation of Orbitex's brokerage needs for all its financial service providers.

Graboyes was previously managing director and head of BNY Global Transition Management, a division of BNY ESI & Company, the agency brokerage subsidiary for the Bank of New York. He also directed BNY ESI's agency program trading group. Prior to that, he directed trading for the money management subsidiary of Prudential. He has also served in the U.S. Army as a captain and a ranger.

"Fred brings to Orbitex an extensive background in developing trading strategies and systems with the agency brokerage subsidiary of the Bank of New York and with Prudential. His engineering and leadership background both in industry and the military will enable him to play a key role as Orbitex Funds Distributor undertakes a major expansion of its capabilities," said Orbitex Financial Services Group CEO Richard Stierwalt.