HERD

Dow Jones & Co. lawyers have taken steps to stop Herd on the Street in its tracks. It seems Dow Jones fears that the use of Herd on the Street for IMD's personnel department "tends to create public confusion as to the source of the material." Also, they apparently own the trademark (although it's unclear whether the trademark extends to gentle puns). All those assuming that Dow Jones was the source of information on our Herd page should consider themselves disenchanted (not to mention naive). However, to avoid confusing more credulous Wall Street Journal readers, IMD's Herd on the Street will now cease and desist to roam, and will appear henceforth simply as Herd.

Onetime Telerate bigwig P. Howard Edelstein will turn up soon at Thomson Financial Services Inc., where sources say he'll start up a new group to develop electronic trade settlement services. Among other project under his oversight will be Thomson's planned Thomson Link to Custodians (TLC) project. Edelstein was most recently vice president of marketing at CAT.S Software Inc.. For more details, see the next issue of Investment Management Technology.

ADP has laid off its long-time veteran and former sales vice president Marc Lichtman. It seems there was no appropriate role for Lichtman in ADP's recently rejigged organization.

Paula Hardy has moved from Merrill Lynch & Co. to Lehman Brothers Inc., where she will work on market data vendor contracts. At Merrill, Hardy was assistant vice president for market data.

Petrina Trimlett left Chemical Bank, where she handled market data as part of a trader customer support group, for a post as senior telecommunications analyst at UBS Securities Inc.

Microsoft Corp. has hired a new marketing manager for the financial services industry: Mike Rawding, formerly of Unisys Corp.