LaBranche & Co Inc. (NYSE: LAB) (the "Company") announced today that Ali
Agboatwalla and Khoa Le have joined the Company as co-heads of the
options trading unit of its LaBranche Structured Products LLC
market-making subsidiary (“LSP”). Messrs. Agboatwalla and Le replace
LSP’s previous head options trader, whose departure the Company
announced on January 28, 2009. Mr. Agboatwalla and Le join the Company
after serving as senior equity derivatives traders for Morgan Stanley
for nine years and seven years, respectively.
“We are pleased Ali and Khoa are joining our company,” said Michael
LaBranche, Chairman, Chief Executive Officer and President of the
Company. “Combining their expertise with the systems we have developed
at LSP should benefit the Company greatly.”
The Company is the parent of LaBranche & Co. LLC, one of the largest
market-makers in exchange-listed securities, LaBranche Structured
Holdings, Inc., whose subsidiaries are market-makers in options,
exchange-traded funds and futures on various exchanges domestically and
internationally, and LaBranche Financial Services, LLC, which provides
securities execution and brokerage services to institutional investors.
Certain statements contained in this release, including without
limitation, statements containing the words "believes," "intends,"
"expects," "anticipates," and words of similar import, constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Readers are cautioned that any
such forward-looking statements are not guarantees of future
performance, and since such statements involve risks and uncertainties,
the actual results and performance of the Company and the industry may
turn out to be materially different from the results expressed or
implied by such forward-looking statements. Given these uncertainties,
readers are cautioned not to place undue reliance on such
forward-looking statements. The Company also disclaims any obligation to
update its view of any such risks or uncertainties or to publicly
announce the result of any revisions to the forward-looking statements
made in this release.
LaBranche & Co Inc.
Jeffrey A. McCutcheon, 212-820-6220
Senior
Vice President & Chief Financial Officer
