HERD

Analytic software vendor Barra Inc. has at last named a new president. Kamal Duggirala has filled the seat vacated by Richard Grinold in September. Duggirala has been director of the vendor's equity trading unit -- a role he will continue in for a transition period -- and also worked very closely in the development of the Posit system, now marketed by Investment Technology Group. Barra chairman and chief executive officer Andrew Rudd had been acting president since Grinold's departure.

PaineWebber Inc.'s Andy Sokolov has left his post with the firm. PaineWebber officials decline to comment on Sokolov's departure, or even to specify his most recent title. At last check, he was director of telecommunications and computer services -- a role which included market data distribution systems. Sokolov's move comes on the heels of PaineWebber's decision to purchase Kidder Peabody & Co. For Paine, the Kidder purchase is a good fit because it will bring Kidder's network of retail brokers under the same operations and technology umbrella as Paine's (see briefs). As a result, Kidder's tech staff are expect to take the biggest hit. Still, Paine has of late been rethinking its own technology org chart. Most recently, it tasked two senior execs -- Robert Karem and Diane Frimmel -- with focusing more attention on retail systems (IMD, June 20).

Telekurs (North America) Inc.'s product manager for real-time systems Steve Williams is no longer with the vendor. While official information as to Williams future whereabouts was unavailable at press time, the word on the street is that he's taken a post with ADP. Among other things, Williams was product manager for Telekurs' Ticker Plus (IMD, March 15, 1993).

Dow Jones Telerate has hired Chris Terrell to join its U.K. trading room systems sales team in London. Terrell was previously at ACT International Ltd., where he sold the Midas Banking System. A Telerate spokesperson says that Terrell is experienced in the area of risk management systems. Sources at Telerate say that his arrival presages a push by the vendor into that area -- a product category in which it currently fields no entries.

The Securities Industry Association has nominated nine new directors: Bernard Beal of M.R. Beal & Co., Daniel Case of Hambrecht & Quist Inc., Francis Godbold of Raymond James Financial Inc., Robert Gordon of Twenty-First Securities Corp., David Lewis of Ragen MacKenzie Inc., Robert Murphy of Robb Peck McCooey Clearing Corp., Rudolph Sander of Janney Montgomery Scott Inc. and Robert Raziano of CS First Boston Corp.