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Taking the FloorModels, Morals, and Management in a Wall Street Trading Room$
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Daniel Beunza

Print publication date: 2019

Print ISBN-13: 9780691162812

Published to Princeton Scholarship Online: May 2020

DOI: 10.23943/princeton/9780691162812.001.0001

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(p.98) 6 Managers
Taking the Floor

Daniel Beunza

Princeton University Press

This chapter shifts the focus from the traders to the managers who supervised them. It considers in particular the issue of risk management through three different managers: the head of Risk Management at International Securities, a senior trader who was in charge of Todd's desk, and a manager whom Bob had tasked with promoting collaboration across desks. The challenges and difficulties these three individuals encountered revealed the organized and to some extent hierarchical nature of professional trading. It also highlights the need for an organizational lens. The chapter's observations of these managers also point to a difficult tension between technical and managerial expertise.

Keywords:   stock market managers, risk management, professional trading, organizational lens, managerial expertise, technical expertise

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